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President signs new Ukraine tax law

KIEV, Ukraine, Dec. 3 (UPI) -- President Viktor Yanukovich said Ukraine's new tax law was amended by a democratic process as he signed it into law Friday.

The law includes concessions to small business owners, especially those operating street kiosks, the Russian news agency ITAR-Tass reported.

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"Processes around the new Tax Code were democratic," Yanukovich said. "A Christmas tree is being installed on the place where the businessmen had their tents. We support the wish of Kiev residents for peace and stability, and we will do our best to make these conditions permanent."

The president vetoed the tax code adopted by Parliament in November following protests by business owners. The changes include allowing those with annual turnover of less than $62,000 to use cash boxes instead of registers.

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