Arseniy Yatsenyuk: The Government's objective is the tax equity

An objective for the Government is to ensure fair taxation, "The one who earns more should pay more. The one who earns less and needs certain social assistance should receive a targeted social aid", said Prime Minister of Ukraine Arseniy Yatsenyuk at a Government meeting on Monday, December 22.

For this purpose, the Cabinet of Ministers offers to introduce new approaches to taxation of large business structures, "Primarily, increasing a rental tax rate, namely for iron ore, oil, gas and condensate".

According to him, another step is the denunciation of the agreement between Ukraine and Cyprus, “under which approximately UAH 6 billion was lost annually".

Thus, Arseniy Yatsenyuk was quoted as saying, abolition of this agreement, unfortunately, does not envisage simultaneous termination of a special taxation regime, "as Cyprus should also denounce it", "Therefore, the Ministry of Foreign Affairs, following the voting in Parliament, will have a right to immediately start negotiations with Cyprus".

The Cabinet of Ministers considers it necessary to establish the transfer pricing for large business, “Namely, the inability to hide income in offshore zones and sell goods at a price that is below the market price, including introduced in the international stock exchange markets”.

"The one who earns more should pay more. The one who earns less and needs certain social assistance should receive a targeted social aid", emphasized Arseniy Yatsenyuk.