Tax and accounting insights for Ukraine
23.01.24
2405 2

The NBU proposes to introduce an additional tax. Hetmantsev vs.

Danylo Hetmantsev, chairman of the Verkhovna Rada's Tax Committee, emphasizes that he does not agree with the National Bank's proposal for an additional tax on non-critical commodity imports.

He understands that this proposal is a tool to influence the negative trade balance.

At the same time, the MP believes that the balance of benefits and losses from such state intervention in economic processes is negative.

Why?

1. The tax provides for the existence of a list of critical imports that are exempt from the tax. We have already used this tool at the beginning of the war. Back then, the list of two dozen goods in March grew to 90% of pre-war imports in June. The list is subjective, and there is a potentially huge corruption component in its compilation.

2. It is indeed possible to impose additional duties on certain luxury goods. But in this case, the impact of the tax on both revenues and the balance of payments will be minimal.

3. The state has not yet used the full potential of administrative decisions to control the return of export earnings to the country.

Danylo Hetmantsev, Chairman of the Tax Committee of the Verkhovna Rada of Ukraine

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