“The biggest impact on the economy would be an increase in VAT, which is currently not under consideration.”, — write: www.unian.ua
The biggest impact on the economy would be an increase in VAT, which is currently not under consideration.
The head of the NBU believes that the biggest impact on the economy would be the increase in VAT / photo UNIANThe planned tax increase in Ukraine will have a complex effect on the economy and will even stimulate economic activity. This was stated by NBU Chairman Andriy Pishnyi in an interview with Forbes Ukraine.“There will be a complex effect. We assessed it, at least most of the proposals currently supported by the parliament, except, of course, the additional tax on bank profits, were already taken into account in our July macro forecast in terms of effects and impact on inflationary dynamics,” he said he.
According to Pyshnyi, the biggest impact on the economy would be the increase in VAT, but it is currently not being considered. The remaining effects of the planned tax increase are quite moderate from the point of view of economic activity.
“Now I will say something strange, perhaps, but due to fiscal easing, all these additional withdrawals will then return to the Ukrainian economy in the form of appropriate financing, which the government will provide. They will even stimulate economic processes and economic activity to some extent. Because of this, we we don’t see any critical deterrent effect at the moment,” said the NBU spokesperson.
As for the pro-inflationary impact, according to Pyshny, it has already been taken into account and will not have an additional negative and dangerous effect at the moment.
Tax increase in Ukraine – the main newsOn September 17, the Verkhovna Rada adopted in the first reading the project of the law on raising taxes (No. 11416-d), which provides for an increase in the rate of military service from 1.5% to 5%, its distribution to FOPs and an additional tax on excess profits of banks.
According to People’s Deputy Yaroslav Zhelezniak, taxes will be increased “retroactively” from October 1, as the law will be adopted in the second reading no earlier than mid-October.
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