A mission from the International Monetary Fund is expected to arrive in Ukraine in the coming weeks for the first review of the new four-year Extended Fund Facility (EFF) program worth $8.1 billion, approved at the end of February. This was announced by IMF spokesperson Julia Kozack.<\/p>\n
According to her, during the mission IMF representatives will discuss with the Ukrainian authorities the implementation of commitments under the reform program, including two measures related to value-added tax (VAT).<\/p>\n
As part of the new program, Ukraine committed to adopting by the end of March legislation introducing VAT for sole proprietors operating under the simplified tax system, as well as for imported parcels valued at under $150.<\/p>\n
At the same time, according to Ukrainian officials, in mid-April Ukraine managed to reach an agreement with the IMF to postpone the first requirement by one year. The bill on taxation of parcels has already passed its first reading in the Verkhovna Rada, although its second reading continues to be delayed.<\/p>\n
Kozack emphasized that the new reform program was agreed upon within the framework of Ukraine\u2019s course toward accession to the European Union. According to her, it is intended to ensure both the inflow of external financial assistance and an increase in domestic budget resources to cover the country\u2019s substantial needs.<\/p>\n
The IMF also supports the Ukrainian government\u2019s plans to broaden the tax base, particularly by reducing the shadow economy. According to the Fund\u2019s estimates, the informal sector currently accounts for about 45% of Ukraine\u2019s GDP.<\/p>\n
Issues related to reducing the shadow economy and additional measures to mobilize revenues will also be part of the upcoming negotiations between the IMF mission and the Ukrainian authorities.<\/p>\n","protected":false},"featured_media":151615,"menu_order":0,"template":"","newscat":[9],"newstag":[],"issues":[],"class_list":["post-151614","news","type-news","status-publish","has-post-thumbnail","hentry","newscat-novosti"],"_links":{"self":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news\/151614","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/types\/news"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media\/151615"}],"wp:attachment":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media?parent=151614"}],"wp:term":[{"taxonomy":"newscat","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newscat?post=151614"},{"taxonomy":"newstag","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newstag?post=151614"},{"taxonomy":"issues","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/issues?post=151614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}