The Finance Ministry has called for the introduction of a tax on the capital

Model the tax on capital is derived only for small and medium enterprises has approved the IMF

Минфин назвал условие для введения налога на выведенный капитал

The Ministry of Finance of Ukraine considers it possible to impose tax on the capital (NVK) only for small and medium businesses. About it reports RBC-Ukraine with reference to the statement of the Ministry of Finance.

“A real opportunity for the introduction of the NEC without the threat of fiscal sustainability are now seeing its introduction for small and medium businesses with an annual income of up to UAH 200 million and the use of the compensator in the form of a conditional advance payment of NVK in the amount of 50% of the amount of tax liabilities from tax on profit for the year 2018 only to this group of taxpayers”, — said in a statement

As noted in the Ministry, in this case 98% of the total number of legal entities will be redirected to the payment NVK and will benefit from this tax. Payers of income tax will be about 4,500 companies with an annual income of over 200 million, that has declared 85% of the total amount of income tax (according to the annual Declaration in 2017).

“This model of taxation was discussed with the IMF and after arduous negotiations, were agreed as possible,” — said the Ministry of Finance.

According to the Ministry of Finance, the direct losses of the budget in the case of the introduction of NVK for all existing payers of the profit tax of the enterprises from 1 January 2019 will amount to 46.7 billion UAH.

The Finance Ministry said that according to the IMF, Ukraine will be able to receive installments of the loan only in the case of the adoption of a balanced budget.

“That is the IMF experts are ready to perceive only a positive approach to the implementation of the NEC, which will not lead to budget deficits not only in 2019, but in the subsequent years”, — said in a statement.

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