Ukraine is following the example of Dubai, Silicon Valley and Belarus of a decade ago by creating a low tax, low bureaucracy regime for IT companies

Ukraine is following the example of Dubai, Silicon Valley and Belarus of a decade ago by creating a low tax, low bureaucracy regime for IT companies, Fedorov told Interfax last week. In coming days, the Rada is to vote on “Diya City” an special regime for IT companies that will feature 5% income taxes and a modern labor code. “Action City is essentially a virtual zone, a kind of register,” Fedorov said. By legalizing operations, he said “companies can go to IPOs, become more understandable to investors.” The Ministry forecasts that Diya City will help Ukraine’s IT industry to attract $12 billion in investment by 2025, creating 450,000 new jobs.