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"The horse must have fodder": Hetmantsev told who will be the taxes reduced for and who they will be raised for

Taxes in Ukraine 2021: Hetmantsev told who will be the taxes reduced for and who they will be raised for. Photo: UNIAN

Taxes in Ukraine 2021: Hetmantsev told who will be the taxes reduced for and who they will be raised for. Photo: UNIAN

The Head of the Verkhovna Rada Committee on Finance, Tax and Customs Policy Danylo Hetmantsev believes that it is necessary to support with tax incentives the development of those economy sectors in Ukraine that give the country high added value.

As he said in an interview with The Page, it is about agricultural processing, shipbuilding, and aircraft construction (according to the official, Ukraine should become a regional leader in aircraft construction), metallurgy, as well as the IT industry.

Hetmantsev said that agricultural industry (namely, raw materials), at the same time, requires additional taxation, since the ratio of income and profit of agricultural producers is significantly less than that of the industry. As for the IT industry, according to him, the Committee has already considered the draft law "Kyiv-City" that provides a special tax regime for IT companies.

«Is it necessary to reduce the tax burden? I am convinced that yes, we can do it and we must do it. However, we must do this in such a way that the horse has fodder. On the one hand, we must enable industries and certain areas to develop and give them tax incentives, and on the other hand, we must remove those gaps and tax holes that exist in tax regulation.»

Danylo Hetmantsev

Danylo Hetmantsev

The Head of the Verkhovna Rada Committee on Finance, Tax and Customs Policy

Hetmantsev also added that the tax burden in Ukraine, in comparison with other OECD countries, is average. The ratio of all taxes to the state budget is 34%, and that is close to the Czech Republic, Slovakia, Hungary, and Estonia.

Context. Earlier The Page wrote that the Tax Service is going to equate the tax on passive income of individuals to the regular income tax. In particular, the officials want to increase the taxation of financial sector instruments and passive income of individuals.

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