Jaresko: Ukraine to lose IMF program if current tax laws remain

09.11.2015 17:43 "Agro Perspectiva" (Kyiv) — While speaking at a meeting of the US-Ukraine Business Council (USUBC) in Kyiv today, the Ukrainian Minister of Finance Natalie Yaresko said that the IMF program states that large agriculture enterprises must switch to the general taxation system, NRCU reports. As to the report, the Minister told that the 2016 State budget will lose UAH12 milliard if Ukraine fails to implement this requirement of the program. Jaresko believes that a solution to this could be the adoption of the draft tax reform drawn up by the Finance Ministry. Reportedly, she also said that the loss in national budget revenue in this case would fall to UAH60 milliard next year, which would require the reduction of the budget expenses by the same sum. As to the report, Jaresko admitted that the Ukrainian government has thus far not worked out how to reduce expenses, adding that defense and social spending cannot be reduced. She said that she does not know when the IMF mission to Ukraine will arrive. Reportedly, Jaresko said that the IMF is waiting for the final decision of the Ukrainian government on the tax reform package and the 2016 State budget.

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