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Monday, 13 March 2017 12:11

EBA met with the Minister of Finance

The EBA member companies met with Oleksandr Danyliuk, Minister of Finance of Ukraine, and his team. Business community had an opportunity to learn about priority plans of the Ministry with a special emphasis on the reforms of the State Fiscal Service and creation of Financial Investigations Service.

The effective reform of the SFS is one of the top issues as for today. In particular, the Ministry is going to optimize tax and customs services, reduce the number of supporting personnel and increase the number of people dealing with operating activity, hold an audit at the regional level in tax service, reduce the number of internal customs, standardize requirements to the places of custom registration and unify approaches to the customs valuation.

The Minister once more stressed the need to create a new analytic Financial Investigations Service, which will deal only with economic crimes against public interest in finance and other spheres. It is planned to concentrate functions of certain power units of the Security Service of Ukraine and National Police within the new Service. The Ministry insisted on subordination of a new body directly to the Ministry of Finance, that shapes a policy and has a competence in spheres related to the Service. Mr Danyliuk suggests that the formation and full launch of the new Service will take place in a year.

According to the Minister, from 1 April, the new procedure for the administration of the register of VAT refunds will become operative, under which the Ministry of Finance will be an administrator of the register, and the register will be formed automatically based on information from databases of the SFS Ukraine and the State Treasury. It should be noted, the VAT refund will occur on a daily basis.

Another discussion issues were devoted to the exit capital tax, introduction of cash registers and concept of authorized economic operators. Mr Danyliuk noted that the Ministry was working on bills regarding all three issues. In a short time, the working group on elaborating Draft Law On exit capital tax will start its operation. The experts will conduct all necessary calculations and analyze all pros and cons of this approach. Also, the Ministry supports the massintroduction of use of cash registers but with the minimal additional burden for business. As for authorized economic operators, the relevant Draft Law was already registered in the Verkhovna Rada, but it was not considered yet. The Ministry hopes to accelerate the consideration of this Draft Law.

EBA representatives had an excellent opportunity to address their concerns and requests to the Ministry. We thank the entire team of the Ministry and personally Oleksandr Danyliuk for professional discussion!


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