Sergiy Tigipko: Ukrainian IT market could increase to $10 billion a year with state support

State support in Ukraine would boost the market for IT services to $10 billion a year, said Ukrainian lawmaker and presidential candidate Sergiy Tigipko.

“Today Ukraine is manufacturing $1.5 billion worth of IT products for export annually and that market is growing by 30%. Therefore, if we create incentives, in the next two or three years we can bring $10 billion worth to that market,” Tigipko said during a visit to the Odeskabel company on Wednesday.

Tigipko said he introduced Bill No. 4805 long ago. It was registered on May 5 and “fully forms incentives for the IT industry.” That document proposes lowering personal income tax to 5% and the single social fee to 5% for employees of IT companies.

That will bring the tax burden down to the level of the leading countries. “These incentives are needed because our main competitors – Brazil, India, China – have them,” the politician said, adding that India practically reached first place in the export of IT services after ten years of such support.

Source: Interfax Ukraine 

Topics: Legal, Legislation & regulation, News, People, Policy making
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