Hetmantsev predicts increase in VAT, military tax and excise taxes

Member of the Verkhovna Rada from the Servant of the People faction, chairman of the parliamentary committee on finance, tax and customs policy Danylo Hetmantsev predicts an increase in VAT, military tax and excise taxes.

He reported this on a Telegram channel, the Ukrainian News agency reports.

"For some reason, the obvious things that we have been talking about for a long time suddenly cause a shock. I will answer everyone at once. Yes, we need to increase both the expenditure and revenue parts of the budget to finance the army, which we finance from our internal sources. We cannot borrow these funds from partners. What is the amount in question? The Cabinet of Ministers is counting the needs, but they are very large. How can we collect such money? We will again wait for the Cabinet of Ministers proposals. But yes, it is impossible to provide it, bypassing main taxes. Thus, the changes will apply to budget-forming direct and indirect taxes, including VAT, military tax and excise taxes," Hetmantsev wrote.

According to him, it is bad for the economy and war is very bad, but there are no other options at the moment.

"I also answer in advance. Yes, the control over the spending of funds will continue to be strengthened. I have very high hopes that the fight against the shadow/smuggling, as it could be seen from the last decisions on illegal tobacco and other areas of economic activity that are traditionally in the semi-shadow, will be strengthened. This is actually an additional tax base, which "lies underfoot". These things do not even need explanation and discussion. Looting during the war should be punished according to the strictness of the law,” the MP summed up.

As reported by the Ukrainian News agency, the Cabinet of Ministers proposes to the Verkhovna Rada to increase excise taxes on fuel, sparkling wines and fermented beverages.

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