“The National Bank of Ukraine considers the next increase in the bank profit tax to 50% too risky and wants to announce a package of decisions by the end of the week, which will ensure that banks cover the budget deficit.”, — write: www.epravda.com.ua
The National Bank of Ukraine considers the next increase in the bank profit tax to 50% too risky and wants to announce a package of decisions by the end of the week, which will ensure that banks cover the budget deficit.
This was announced by the head of the NBU, Andriy Pishnyi. transmits “Interfax-Ukraine”.
“The risks of such a step for solving the task of financing the deficit and stable credit growth will be greater than the benefits… The balance is quite fragile and must be supported,” Pyshnyi said.
According to him, the Ministry of Finance maintains the same position.
Pyshnyi also stated that the National Bank sees opportunities to expand the channel of covering the deficit by banks, without using the issue, by purchasing OVDP bonds.
“By the end of the week, we will announce a whole package of relevant decisions,” announced the head of the NBU.
In addition, he noted that, in general, the National Bank understands the need to increase the fiscal channel of financing the budget in the conditions of prolonging the war, maintaining its high intensity and reducing external financing.
Pyshnyi specified that the NBU supported a permanent increase in the profit tax of financial companies from 18% to 25%, in particular to avoid tax arbitrage with banks, for which this tax was increased from 18% to 25% from the beginning of 2024.
We will remind:
Verkhovna Rada voted for draft law #11416-d on raising taxes in the first reading.
In the draft law on raising taxes No. 11416-d added clause on the taxation of banks’ profits, but the NBU and the Ministry of Finance are categorically against it.