KYIV, June 7 – The Ukrainian version of the so-called "tax on Google" may entail significant inconveniences for consumers of small and medium-sized enterprises (SMEs), the Ukrainian League of Industrialists and Entrepreneurs (ULIE) warned.

The bill was approved by Parliament on June 3.

"The so-called "tax on Google" (in general, on multinational IT companies) has existed for quite a long time in the EU countries. This caused a flurry of discussions in Europe itself, as well as in the United States, and some changes in the pricing policies of companies. For the European format this is not about 20%, but on average 2-3-5%. Therefore, the Ukrainian version is the most sweeping," ULIE said in a statement released on Friday.