The introduction of local tax reliefs is an effective tool for increasing the investment attractiveness of communities

Dnipropetrovsk regional investment agency (DIA) continues an initiative series of hands-on workshops for territorial communities of newly-created districts of Dnipropetrovsk region.

On July 1, representatives of the communities of Novomoskovsk and Pavlohrad districts joined the discussion of the local tax reliefs formation features.

The event was also attended by Olha Semykina, Acting Head of the Department of Economy, Budget and Finance of the Dnipropetrovsk Regional Council, and Natalia Osadcha, Doctor of Economics, Institute of Industrial Economics of the National Academy of Sciences of Ukraine.

Valentyna Zatyshniak, director of DIA, started off the event by presenting the general characteristics of the districts and noting that local tax reliefs and open data of communities are effective tools for achieving their sustainable development.

«Pavlohrad and Novomoskovsk districts are the smallest districts of the region in terms of population and area, but not in terms of their significance. More than 6,000 business entities are registered here, which provide 3.4% of the total volume of sold products of the region in Pavlograd district and 1.7% – in Novomoskovsk district», – commented Valentyna Zatyshniak.


Natalia Osadcha, drew the attention of the audience to the importance of the Law «On state support of investment projects with significant investments»: «Adoption of the document – a positive call for investors. It will stimulate the attraction of strategically important investments into the national economy. In turn, this will ensure a high level of competitiveness of the economy through the introduction of state support for significant investment projects».

«The main thing to do on the way to implementing tax reliefs is to understand what resources and tools the community has and how to use them to help attract or support existing investors in the community, namely foreign companies and local businesses,» said Denis Alekseenko, DIA legal counselor. During the main part of the workshop he also presented the existing tax reliefs in the communities, defined by the legislation of Ukraine.

More details in the presentation at the link.

The attention of the workshop participants was attracted by DIA information resources (DIA portal, DIAmapinteractive investment map of the region, DIAgramopen data module), which they can use to promote their own territories and obtain information about the region as a whole in open data format.

«Communities of Novomoskovsk and Pavlohrad districts offer 500 hectares of investment attractive land plots each. DIAmap is regularly updated thanks to the permanent communication between the Agency and the communities», said Halyna Savran, land analyst at DIA.

«In a competitive environment of the communities, it is very important to focus on global goals yet act locally. The exchange of experience and successful cases of introducing local tax reliefs in communities emphasize the high efficiency of such meetings, especially in the conditions of «COVID realities» to generate ideas for further development of territories» – summed up Valentyna Zatyshniak.

More photos of the workshop are available here.