• 23/06/2024 11:42

Ukraine has fulfilled another IMF requirement: what are we talking about?

 Украина выполнила еще одно требование МВФ: о чем идет речь

The reform consists of limiting the interference of regulatory authorities in business activities.

On Wednesday, December 27, the Cabinet of Ministers of Ukraine approved the National Revenue Strategy for 2024-2030, which includes strengthening fiscal capacity, adapting tax and customs legislation to EU standards, and creating incentives for post-war recovery and economic growth.

As Prime Minister Denis Shmyhal noted, the adoption of this document is another structural beacon of the cooperation program with the International Monetary Fund.

The Cabinet of Ministers explained that to achieve this comprehensive goal, the Strategy provides for the creation of a reliable, transparent and customer-oriented system in the tax and customs spheres, capable of ensuring the trust of citizens and businesses in government institutions.

“The implementation of the Strategy will be carried out consistently. The internal reform of tax and customs authorities is planned first, which is key to preparing for further changes. The reform consists of limiting the interference of regulatory authorities in business activities through the consolidation of data and the transition to working with anonymized information. Next, there must be a restoration of the level of taxpayers’ trust in the authorities, which is critical for the success of new tax initiatives,” says a message on the official page of the Ministry of Finance.

Denis Shmygal noted that the government needs to do a huge amount of work to harmonize Ukrainian legislation with European legislation and improve the quality of our institutions.

Previously, Ukraine committed itself to four additional IMF requirements. In particular, the State Tax Service and the State Customs Service should develop an action plan with activities that will be integrated into the overall National Revenue Strategy.

Let us recall that on October 26, 2023, President Zelensky signed a law on stricter control over the finances of PEP (politically exposed persons), which was one of the IMF’s requirements.


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