Sunday , March 7 2021

The Ministry of Finance estimated the probability of default in 2019

Ukraine needs to continue co-operation with the IMF, otherwise, the country has threatened to fail in 2019, according to a statement published on the country's Ministry of Finance website. In addition, it is a requirement of the company to pay in advance 50% of the tax rate on the profit tax in 2018. The press center said that. Ministry of Finance of Ukraine.

The IMF agreed with the introduction of NNVK in the Ukrainian state, however, only for companies with annual turnover up to 200 million UAH and provided they have to pay 50% of the amount of tax liability for income tax for 2018 in advance.

According to S. Kahkonen, suggestion Ministry of Finance of Ukraine replacement of income tax with tax on withdrawn capital for companies with earnings up to 200 million UAH. – It's a way of reducing budget losses.

"This tax model was discussed with the IMF, and after heavy negotiations, they agreed as much as possible," informs the ministry. In addition, Ukraine will be able to receive a tranche under a newly established program with the Fund only if a balanced budget is adopted.

The Ministry added that in 2019 Ukraine should pay at least UAH 400 billion in debts.

To avoid this, Ukraine needs to abandon steps that will lead to a reduction in revenue or an increase in budget expenditures. Thus, according to estimates of the Minister of Finance, the direct budget losses in the case of tax on withdrawn equity for all existing taxpayers to profit from January 1 next year will amount to 46.7 billion UAH.

Finance Minister Oksana Markarov and Tax Adviser Nina Yuzhanina agreed that the abolition of income tax and the introduction of tax on withdrawn capital is a significant step in the business. In addition, the law debates in the Verkhovna Rada, predicting the introduction of tax on withdrawn capital instead of income tax, can put the stability of the country's financial system in danger, according to the department.

At the same time, Prime Minister Vladimir Grošman claimed at the end of June that abusing the imposition of tax on withdrawn capital could lead to a financial crisis.

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