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IMF assesses Ukraine's tax policy

Source : 112 Ukraine

The organization believes that the Ukrainian government seeks to reform the tax system but at the same time questions its basic principles
12:33, 25 November 2020

The International Monetary Fund (IMF)
Reuters

The International Monetary Fund (IMF) has conducted an assessment of Ukraine's tax policy. The relevant report was published on the website of the organization on November 23.

"Tax policy in Ukraine is engaged in two fronts at once. On one front, very significant work has been done over the years on the gradual improvement and updating of the tax system; on the other, it questions essential tenets of the existing system, exploring fundamental changes to it," the statement said.

Related: Five billion goal: Ukraine's commitments to IMF?

It emphasizes that Ukraine has made serious efforts to modernize the international aspects of the income tax, upgrading the regime to OECD standards. At the same time, the IMF warned against abolishing the Corporate Profit Tax and replacing it with the Exit Capital Tax.

As we reported earlier, Tymofiy Mylovanov, Adviser to the Head of the Office of the President of Ukraine, predicts that Ukraine will not be able to receive loan tranches from the IMF in 2020.

"This year, Ukraine does not have time to receive an IMF tranche," said the former economy minister.

Related: Ukraine’s PM holds meeting with IMF representatives

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