New tax amnesty bill encourages taxpayers to come clean

The Ukrainian parliament on March 30 approved the first reading of a tax amnesty bill in a historic move to fight widespread tax evasion which costs the country $7.7 billion a year.

If the bill is signed into law, those who dodged taxes will have one year to come clean with a voluntary one-time declaration of assets, starting on July 1. The state asks them to share information about their earnings in exchange for tax forgiveness.