Marchenko for disclosing bank secrecy for Tax Service

Finance Minister Serhii Marchenko stands for disclosing bank secrecy for the Tax Service.

He announced this on the air of the UT-2 podcast, the Ukrainian News agency reports.

"As the Minister of Finance, I believe that maximum transparency and openness in paying taxes is our future. And we should not be afraid to disclose bank secrecy, which, as we believe, protects us from something. Bank secrecy protects thieves and criminals," the Minister of Finance said.

At the same time, he emphasized that tax officials should definitely get access to bank secrecy, and specified that it will eventually be abolished within the framework of European integration.

"The only way to protect this is when we say: we have a protected perimeter, all this information will be in the fiscal authorities and law enforcement agencies will not have access to this information. Only if there is a certain legal basis, this information will be provided," Marchenko explained.

At the same time, according to him, tax officials will not have access to the financial information of a specific person, but will analyze arrays of information.

As the Ukrainian News agency earlier reported, in October 2024, the Verkhovna Rada expanded the powers of the National Bank to combat "drops" and refused to abolish bank secrecy for the National Police.

Bank secrecy is an important tool for protecting the personal information of bank clients in many countries around the world.

In the European Union and the United States, there are rules and regulations that determine its application.