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Shadow alcohol market damages state budget up to $603,5 million per year, - official

Source : 112 Ukraine

The situation can be remedied by applying electronic excise stamps
17:02, 5 February 2020

Open source

Ukraine’s budget loses from 200 to 600 million dollars a year because of the shadow trafficking of alcohol. Cabinet Minister Dmytro Dubilet stated this in an interview with Radio Svoboda.

"In my estimation, the state budget is deprived of 200-600 million dollars. We started dealing with this issue in autumn. As you can see, what a leap forward ... almost 200 million dollars plus. And all of this despite the fact that we have not yet introduced an electronic excise stamp, have not made a complete reboot of all bodies responsible for this," he said.

According to Dubilet, electronic excise stamps will allow determining where a bottle with a forged or copied excise stamp will appear. Also, the application of electronic excise stamp will significantly reduce the size of the shadow market in the near future.

Related: Ukraine receives $2,1 billion less to state budget than due

As we reported earlier, President of Ukraine Volodymyr Zelensky expects that the Cabinet of Ministers will adopt all the necessary legislation to reform the alcohol sector and start preparing Ukrainian State-Owned Enterprise of Alcohol and Liquor Industry (Ukrspyrt) for privatization within two months.

In addition, the President noted that law enforcement agencies, together with the government and the President's Office, should step up the fight against illicit alcohol trafficking.

Related: Zelensky expects Ukrainian govt to start preparing Ukrspyrt for privatization

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