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On February 12, the business community met with Ms. Natalie Jaresko, Minister of Finance of Ukraine to discuss how to move the reform agenda forward. Meeting was held in the light of results of discussion of the economic reform program between Ukrainian State and the IMF to be supported by an Extended Fund Facility Arrangement.
In her inspiring welcoming remarks, Ms. Natalie Jaresko highlighted the results of negotiations with the IMF at these difficult times as well as measures of the Ukrainian Government implemented to find a balance between fiscal needs and the business environment improvement.
While outlining recent amendments to the Tax Code of Ukraine, the Minister of Finance of Ukraine noted that it wasn’t a taxation reform, but taxation changes and outlined plans for future aimed at improving the business climate, namely:
- ensuring stability of financial and banking sector;
- launching discussion with the business community on improvement of taxation of royalties;
- tax administration reform to shift the service from fiscal one to taxpayer-oriented;
- customs policy improvement and pension reform.
She also informed the meeting participants on efforts and expectations of the state in the sphere of the budgeting process, tackling corruption, streamlining activities of state-owned enterprises and other important aspects of public finance.
Ms. Natalie Jaresko underlined unity of all branches of power and encouraged the leading domestic and foreign investors “Don’t give up and walk the walk with me”.
While moderating the Q&A session, Ms. Taras Kachka, Acting President of the American Chamber of Commerce in Ukraine noted that the Chamber is willing and ready to provide all necessary assistance and support to develop clear, predictable and tangible rules within the future tax reform.
The meeting attendees had an excellent opportunity to raise a number of issues of their interest and concerns, namely:
- transformation of the fiscal service and customs affairs reform;
- financial system stability;
- taxation of subsoil use for gas production;
- VAT refund for grain export;
- development of clear and predictable excise policy;
- electronic treasury and many other important issues for the business community.
The Chamber appreciates an honest and open dialog with Ms. Natalie Jaresko, Minister of Finance of Ukraine and will be happy to join efforts with her and her team to move the reforms agenda forward for the benefit of both, the State and the business community.
To get more details about this meeting, please contact Tetyana Prokopchuk, Chamber Senior Policy Officer.