“Well, with God.” Poroshenko introduced in Parliament a bill on the tax on the capital

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Its adoption should contribute to GDP growth.

The President of Ukraine Petro Poroshenko introduced to the Verkhovna Rada a draft Law “on tax on the capital.”

It was announced during a meeting with representatives of business in Kiev.

Submitted to the Verkhovna Rada a draft Law “on tax on the capital.” As it happened in Estonia, where such a law already in force. Pleased that this bill today during a meeting with the business community was a huge support.

— Petro Poroshenko (@poroshenko) on 4 July 2018.

In December last year he stated that this document has great anti-corruption importance as it will facilitate the conduct of business. The new legislation aims to facilitate the flow of investment and loans and, ultimately, GDP growth.

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Poroshenko noted that currently the greatest threat to the state budget is the large number of bogus schemes that the companies use to avoid payment of tax. And if approved, the tax on the capital of the concealment of profits just will not make sense.

In March, Poroshenko has postponed the presentation of this bill because of the position of the international partners.

“Unfortunately, because of the position of the international partners and companies should carry out further discussion and search for arguments for them”, – said the Deputy head of the presidential Administration Dmitry shymkiv.

Media reported that the IMF had opposed the adoption of the relevant law, since its implementation could lead to an increase in the budget deficit. The Fund also stressed that the adoption may lead to rupture of cooperation between Ukraine and the lender.

The tax on capital is derived assumes that the business will pay 20% of the state – the money you can invest in the development of the company.For foreign investors the tax rate is fixed at 15 per cent. Now, the tax burden on companies can be up to 25%.

It is also planned to abolish the tax on repatriation, charged with the payment of dividends to legal entities-nonresidents of Ukraine.

The transition to the new tax will lead to budget losses in the first years of operation, is about 23 billion UAH for the first year. The “mode of loss” will last about 2-3 years. However, experts noted that in those countries where the tax imposed on the capital, GDP increases on average by 1.5% per year.

“Well, with God.” Poroshenko introduced in Parliament a bill on the tax on the capital

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