The International Monetary Fund (IMF) has started working on the development of a post -war package for reforming carbon emissions in Ukraine, analyzing and evaluating taxation of extractive industries and determining the principles of taxation of virtual assets, agreed with EU rules, in particular, on the exchange of information and initiatives.
According to published on the site by materials Prior to the 5th revision of the EFF extended financing program for Ukraine, it is planned to consider reforms of a fairer tax system in Ukraine (for example, through a more progressive personal income tax), a comprehensive reform of the simplified taxation system (SCO) to limit the scope and abuse.
“The reform of the simplified tax system will be aimed at minimizing the opportunities for medium and large businesses to legally evade taxes or hide taxes from taxes of goods and services, including illegally imported or manufactured,” the document reads.
In addition, it is noted that it is planned to stop the use of a system of simplified taxation to transfer the legal framework of labor relations into a civil law plane. In particular, no later than the early 2027 of the IMF will begin to implement measures that restrict the possibility of returning economic entities to the use of the EP after their transition to the general taxation system.
In addition, approaches to determining and indexing threshold values for the use of a simplified taxation system and a narrowing scope of taxation system will be revised by eliminating certain activities.
However, as stated in the National Income Strategy (NRS), PIT reforms and VAT requires administrative reforms, including to ensure the confidentiality of tax data in SSO systems, as well as to revise the Ministry of Finance in cooperation with the NBU, with the technical assistance of the IMF and other international partners, taking into account the best international practices.
It is also noted that legislative changes to the introduction of requirements for reporting of digital platforms and international exchange of data in accordance with the EU Council DAC 7 and the Rules of reporting of the OECD, which will provide the DPS will access data from individuals without registration of private entrepreneurship or the use of simplified taxation system.
It is expected that this will be an effective tool for controlling the timeliness, reliability and completeness of income declaration and will contribute to a significant expansion of the tax base by including individuals whose income is not taxed.
“This event will facilitate the mobilization of income and harmonization of the tax legislation of Ukraine with EU legislation and OECD standards, and will be the first step to reforming the taxation system by introducing a traffic police system for new digital control instruments. We will submit appropriate legislative changes to the Parliament by the end of April 2025,”
It was reported that on March 28, the IMF published an updated Memorandum of Economic and Financial Policy, following the seventh revision of the EFF extended financing program with Ukraine, which recorded failure to fulfill the deadlines of four beacons in July and the end of the end of the end of the end of the end of the end of five.
Yes, by the end of June, it is necessary to complete an independent inspection of the NCSSMC, by the end of August-to approve changes to the procedures of selection and appointment of members of the Supervisory Boards of State Company, by the end of September-to adopt an operational plan for the implementation of the updated IT strategy of the Ministry of Finance together with state tax and customs. To approve sectoral state investment management strategies.
