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The plan under discussion by the European Commission would affect €8.4 billion in macro-financial assistance to Ukraine, which could be provided this year.
According to sources, this comes as Ukraine seeks to persuade another major donor, the International Monetary Fund (IMF), to postpone the introduction of additional requirements for receiving aid under a separate loan program exceeding $8 billion.
The EU, as reported by Bloomberg, wants Ukraine to tighten the preferential tax regime, which provides for a 5% revenue tax and was originally designed for the self-employed and small businesses.
Under the proposed changes, companies operating under the preferential system would be required to pay 20% VAT if their annual income exceeds 4 million hryvnias (approximately $90,700 ), Bloomberg notes. This adjustment would generate more than 40billion hryvnias ($907 million) annually for Ukraine’s state budget.
source: bloomberg.com
According to sources, this comes as Ukraine seeks to persuade another major donor, the International Monetary Fund (IMF), to postpone the introduction of additional requirements for receiving aid under a separate loan program exceeding $8 billion.
The EU, as reported by Bloomberg, wants Ukraine to tighten the preferential tax regime, which provides for a 5% revenue tax and was originally designed for the self-employed and small businesses.
Under the proposed changes, companies operating under the preferential system would be required to pay 20% VAT if their annual income exceeds 4 million hryvnias (approximately $90,700 ), Bloomberg notes. This adjustment would generate more than 40billion hryvnias ($907 million) annually for Ukraine’s state budget.
source: bloomberg.com
