Govt raises taxes on the most profitable businesses and reduces payments to officials and MPs

For the second time, the Government of Ukraine managed to raise taxes on the most profitable businesses, which are in the hands of Ukrainian oligarchs, stated Prime Minister of Ukraine Arseniy Yatsenyuk at a press conference on Thursday, July 31, following a meeting at the Parliament, at which the Parliament supported the Government’s laws.

“We managed to raise taxes for most profitable businesses, which are in the hands of the oligarchs. I am convinced that Rinat Akhmetov's companies with readily pay the increased tax. I am also convinced that Ihor Kolomoisky will pay with pleasure the oil rent increased from 39 to 45 percent,” the PM emphasized.

At the same time, the PM noted that elements for stimulation of this business were introduced. In particular, on each well, which started production of oil or gas, the Government grants a benefit of 50% of standard rent for two years. “By this, we stimulate gas and oil production, stimulate energy independence of the country and the increase of domestic energy production,” Arseniy Yatsenyuk added.