VIENNA, Nov. 8 - The Ukrainian government has abandoned its plans to reduce profit tax from 25% to 19% in one year, and is planning to extend the decline for three years with an annual reduction of 2%, Prime Minister Mykola Azarov said.
"Initially we planned to reduce [profit tax] by 6%, from 25% to 19%, in one year, but the current situation on the world markets is forcing us to take a more conservative approach, and we decided to reduce profit tax by 2% per year, so that in three years we will cut it by 6%," he said at a meeting of the Vienna Economic Forum in Vienna on Monday.
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