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Yatseniuk: Partial elimination of shadow schemes allows to collect to budget 5% up against last year
26.11.2014 18:46 "Agro Perspectiva" (Kyiv) —
Despite the decline of industrial production, this year the Government has managed to collect by 5% more revenues to the budget than last year. This is due to the partial closure of shadow schemes, de-shadowing of trade by petroleum products and tough tax measures towards big business,
Government Portal reports quoting the Ukrainian Prime Minister Arseniy Yatseniuk as saying on Wednesday, November 26, at a Government’s meeting summing up the governmental nine-month work.
Arseniy Yatseniuk stressed that the Russian military aggression «hasn’t just hit the Ukrainian economy but causedserious losses to the country»: «It has undermined any investment attractiveness of the state, so, to invest in a country where there are Russian tanks and Russian terrorists is a risky business».
Therefore, he said, the Government has resumed its cooperation program with the IMF, the World Bank, the European Bank for Reconstruction and Development, the European Investment Bank, «Today, private investors are not ready to invest in Ukraine, but international institutional investors help Ukraine cope with financial problems».
Besides, Yatseniuk has informed that today Ukraine received in general US$8.6 milliard from international financial institutions, «US$9.1 milliard have been spent on the debts that we didn’t do, as well as on the interests on these debts. Another US$1 milliard 670 million we spent on the debts of Naftogaz Ukrainy, namely Eurobonds that we repaid a month ago.»
He also reminded about the forecasts concerning the budget deficit of minus 7% and 10%: «We are holding the state budget deficit at the level of 4%. For a country that is at war, which has been totally looted, budget figures for revenues by 5% up against the previous year and the deficit within 4% are acceptable.»
Reportedly, Yatseniuk also admitted the Government managed to build the VAT refund system, «Despite the difficult economic situation, we are refunding VAT to our producers and, moreover, we have introduced a public reporting system.»
«Some shadow schemes have been eliminated. Some, of course, haven’t. We must continue to restore order, especially at customs in the State Fiscal Service. This will give the opportunity of de-shadowing revenues as well as additional filling of the Ukraine’s state budget,» the Prime Minister emphasized.
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