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Ukraine's President Vetoes Controversial Tax Bill

Ukrainian President Viktor Yanukovych has sent the proposed tax bill to be modified
Ukrainian President Viktor Yanukovych has vetoed a tax bill that sparked mass protests across the country.

Thousands of business owners in Kyiv and other cities had been rallying for days demanding the bill, which would raise taxes on smaller companies, be withdrawn.

The government had previously said it had proposed the tax bill in order to fund pensions after a severe recession and also to streamline complicated tax legislation.

On November 30, Yanukovych announced that he had ordered the government to change the bill, which will be sent back to parliament.

compiled from agency reports