KYIV, May 13 – The Cabinet of Ministers has approved a bill with amendments to the Tax Code, which proposes the indexation of certain tax rates, such as fees for the use of water, forests and the environmental tax, as well as an increase in royalties for mining, raising the efficiency of the excise tax.

The government approved the bill at a meeting on Wednesday.

As Finance Minister Serhiy Marchenko explained, the bill aimed at eliminating tax evasion schemes is intended to balance the state budget. He said that the adoption of the bill will attract over UAH 60 billion to the budget.