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Economy 2019-10-15T04:13:21+03:00
Ukrainian news
For Introduction Of Tax On Withdrawn Capital After 2020, New Bill And Coordination With IMF Needed - President

For Introduction Of Tax On Withdrawn Capital After 2020, New Bill And Coordination With IMF Needed - Presidential Administration Deputy Head Honcharuk

IMF, President, Presidential Administration, income tax, Oleksii Honcharuk, Volodymyr Zelenskyy, tax on withdrawn capital

Oleksii Honcharuk, Deputy Head of the Presidential Administration for Economic Affairs, states that the team of President Volodymyr Zelenskyy is studying the issue of replacing the income tax with a tax on the withdrawn capital, but for its introduction after 2020 it is necessary to introduce a new bill and coordinate the proposed model with the International Monetary Fund (IMF) .

He announced this to Ukrainian News Agency.

"The president promised a tax on the withdrawn capital. The team is studying the issue and is working on the possibility of its introduction. The question is when to introduce it and in what form," he said.

At the same time, Honcharuk added that the introduction of a tax on withdrawn capital from 2020 does not seem realistic.

"Obviously, this year it is almost impossible. For its introduction from January 1, 2020, it will be necessary not only to violate the law and accept tax changes in the second half of the year, but also to somehow try to prepare a budget at a non-existent tax, which is impossible," he said.

At the same time, the Deputy Head of the Presidential Administration considers it possible to introduce a tax on the withdrawn capital later.

"We will now actively work with its ideologists and developers in order not to delay, but to develop as soon as possible an acceptable model and coordinate it with the IMF," he said.

At the same time, a registered bill on the replacement of the profit tax with a tax on the withdrawn capital, according to him, is already irrelevant.

“The law, which is now in the Verkhovna Rada, is already irrelevant, and the developers of the bill themselves at the last meeting proposed to send a new edition, which they would like us to consider. We are waiting for a new edition and will work with it,” he said.

On the question about compensators, the Deputy Head of the Presidential Administration answered that at the moment different options are being studied and considered.

"There are a lot of ideas about compensators, but it is necessary to sit down and count. To avoid negative budgetary consequences, they need to be minimized. The amount that can be underpaid and should be compensated is estimated by the initiators of the bill and its opponents very differently. Therefore we will substantively return to this issue after calculations," he said.

As Ukrainian News Agency earlier reported, Zelenskyy is convinced that Ukraine can enter the top 10 of the World Bank’s Doing Business rating for 3-4 years (by 2024).


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