“The tax amnesty law is unlikely to bring additional funds to the budget. We’ll see what will happen with the resource bill, but I don’t really believe it either. At the same time, the costs will increase, since the president’s desire to spend money is enormous. Corruption will only get worse. Violations with VAT refunds are already becoming a mass story. Therefore, it turns out that more will be gnawed out, “he said.
Danilyuk predicted “serious negotiations and very tough conditions on the part of the IMF” at the end of this year or early next year.
Draft law №5153 on shaping incomes and improving the tax culture of citizens by voluntarily declaring assets and paying a lump sum to the budget, which is called the “tax amnesty law”, Verkhovna Rada adopted in the second reading and in general June 15th. The document provides for a one-time special voluntary declaration of assets of individuals in the period from July 1, 2021 to July 1, 2022.
The explanatory note to the bill says that, according to the calculations of the Ministry of Economy of Ukraine, in 2019 the level of the shadow economy amounted to 29% of the volume of official GDP, and in the first quarter of 2020 – 31%.
After the adoption of the tax amnesty law, an IMF spokesman said that Fund experts analyze the document for the impossibility of using it for money laundering and corruption.
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Danilyuk was the Minister of Finance of Ukraine from April 2016 to June 2018. In 2020, he founded the Center for National Sustainability and Development together with ex-Prosecutor General Ruslan Ryaboshapka and former Foreign Minister of Ukraine Pavel Klimkin.
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