• 24/07/2024 04:44

Tax benefits for business: Getmantsev announced changes

The government will analyze the effectiveness of existing tax breaks, after which some of them may be canceled in order to increase revenues to the state budget. The head of the Verkhovna Rada Committee on Finance, Tax and Customs Policy, Daniil Getmantsev, spoke about this in an interview with Ukrinform.

Tax benefits for business: Getmantsev announced changes

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Getmantsev recalled that in the process of reviewing the terms of the loan program with the IMF in December last year, the Ukrainian authorities committed to assess the effectiveness of tax benefits, including their “cost” for the budget, by the end of July of this year.

“For us it is important… to understand how effective and fair the remaining benefits are today, which provide an overall economic effect – or, on the contrary, do not provide, but only create holes in the budget. And then, together with our partners, we will be able to decide what should be left and what really harms the economy,” he explained.

As an example, he cited a benefit for enterprises of the All-Ukrainian Organization of Disabled Persons, which still receive a VAT refund, paying this tax at a zero rate.

“Such a benefit is absolutely unjustified. Because, in essence, the freed resource does not go to support persons with disabilities, but to finance several families who monopolize this area in Ukraine,” Getmantsev noted.

At the same time, he admitted that the global abolition of tax benefits will not radically affect budget revenues. In addition, most of the benefits and preferences introduced after the start of the full-scale invasion have already been cancelled.

“Almost all of us have returned to the pre-war level, except for the benefits provided to enterprises of the military-industrial complex. And they cannot be abolished now,” he said.

Getmantsev added that benefits for business entities operating in border and front-line territories will definitely not be abolished until the end of the war.

minfin.com.ua

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