At the beginning of December 2004, the city executive committee foresaw a problematic situation with the payment of the fixed and single taxes, based on the Law "On the State Budget of Ukraine for 2005." Therefore, in December the city council approved a plan for preparing regulatory acts for 2005, which planned to begin preparatory work on introducing amendments to the city council decision of 05.03.03 "On the Rates of Fixed and Single Taxes" in February 2005. The preparation of the draft city council decision on changing the rates of fixed and single taxes was planned for February because it was not known whether the provision of the law "On the State Budget for 2005" regarding 100% of revenues from these taxes going to the local budget would be in effect. Taking into account the proposals that were made at the "round table" and received in written form by the city executive committee from business entities and the association for the protection of entrepreneurs' rights "Business-Volodymyr," and the city employers' federation, a draft city council decision was prepared "On Introducing Amendments and Additions to the City Council Decision of 5.03.03 'On the Rates of Fixed and Single Taxes.'" At the public hearings, the proposed rates were adjusted and recommended for consideration at the city council session. Most of the single tax rates were reduced by 50%, but some of them were reduced by a smaller percentage (25-40%) taking into account the high profitability of these types of activity. In addition, with the aim of legalizing hired labor and encouraging entrepreneurs to create new jobs, the city council adopted a decision to reduce the single tax rate by 10% for five and by 20% for more than 5 employees. This significantly reduces the tax burden on entrepreneurs. The fixed tax rates were reduced by 7-10%. At an extraordinary session of the city council on February 25, changes to the rates of the single and fixed taxes were adopted, which will significantly reduce the tax burden on entrepreneurs – natural persons. The Volodymyr-Volynskyi city council is the only local self-government body in Volyn that was the first to address the problems of entrepreneurs and promptly revised the rates of the single and fixed taxes.