Thus, the Cabinet of Ministers is going to fight against imports.
=”The Cabinet of Ministers will develop a decision on the introduction of a tax on the purchase of foreign currency: a considerable percentage is planned” />
The Cabinet of Ministers is developing a bill on the introduction of an additional tax on the purchase of foreign currency. This wasreported by the Deputy Chairman of the Committee on Finance, Tax and Customs Policy Yaroslav Zhelezniak.
The tax will affect currency exchange transactions for the purchase of all imported goods and services. Currently, it is not clear whether it applies to importers – legal entities, or whether it will also be extended to individuals.
“The concept does not provide for additional import duties (which is difficult to administer), but provides for the introduction of a 10% fee on currency exchange transactions for the purchase of all imported goods and services,” Zhelezniak noted.
The purpose of the bill is not only to increase revenues to the state treasury, but also to reduce the demand for imported goods and services among Ukrainians and, accordingly, pressure on international reserves and the stability of the hryvnia, the deputy noted.< /span>
“The CMU is expected to introduce a bill in the coming weeks. We will see what will come of it,” he added.
In an interview, Minister of Finance Serhiy Marchenko announcedin an interview that the government intends to introduce an additional duty on imports.
The idea of introducing a 10 percent tax on the purchase of foreign currency was also supported by the National Bank.
“From the point of view of the National Bank, as the body responsible for the stability of the hryvnia, additional taxes on imports in the current conditions should be considered as measures to strengthen the competitiveness of domestic producers, reduce the outflow of currency from the country, balance balance of payments and reduction of the budget deficit,” it was noted there.
The regulator added that the development of the tax is within the competence of the Ministry of Finance, but NBU specialists are also involved in this process , taking into account the potentially important role of banks in the administration of such a tax.
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Currently, importers purchase currency at the official rate of the National Bank, which is fixed at a new level of 36, UAH 57 per dollar. If the relevant bill finds support in the parliament, then in fact the currency purchase rate by importers may increase to UAH 40.23 per dollar, because they will be obliged to pay UAH 3.66 to the budget.
