Wealth, luxury tax needs to be introduced - Poroshenko

"The level of taxation shouldn't hinder the economic development and the creation of new jobs," Poroshenko said. According to the president, a taxation system that will be clear for taxpayers, easy to administrate, and harmonized with EU requirements should be the outcome of tax reform. At the same time, Poroshenko said, payment of taxes must become the duty of taxpayers, there should be no tax evasion. Poroshenko said that tax reform must be decisive, but should provide an opportunity for businesses to adapt. The president focused on the importance of reforming the State Fiscal Service. "This institution must provide high-quality services for taxpayers. Its credibility among citizens and business is the key point," he said. Poroshenko said that some of the problems faced by businesses are the burdensome administration of taxes, the instability of tax legislation, major fiscal pressure on the payroll fund, and the shadow economy and smuggling that result in an obviously non-competitive environment for taxpayers. Also, Poroshenko noted that business also suffers from the aggression of Russia and the weakness of the judicial system. He urged the deputy head of his administration and the parliament chairman to consider the issue of judicial reform at the next session of the Constitutional Commission.