There is reason to assume that Ukraine is gradually emerging from the crisis. VAT revenues in May-September 2020 increased by one and a half times, as compared to the corresponding period of 2019. Tax efficiency with VAT grew from 2.65% in April this year to 3.4% in June. This is the highest figure in a year and a half. Minister of Finance of Ukraine Serhii Marchenko emphasized in an interview with Mind.
"Thanks to the fulfillment of revenues by the tax and customs services, we are making up for the backlog in terms of revenues. This is UAH 44.2 billion at the beginning of May. Now we have reduced this gap to UAH 10 billion. And by the end of 2020, we will close that issue," the Minister said.
He considers this positive trend as the result of, in particular, the fight against shadow schemes for VAT payment and fictitious tax credit. "This was entailed from increasing the transparency and accountability of tax authorities, staff rotations, organizational improvement of the State Tax Service, new quality of services, etc.," Serhii Marchenko stressed.
According to him, there are positive changes in the work of the customs. "For the fourth month in a row, the State Customs Service performs a monthly revenue plan. This positive dynamics is also the result of a number of personnel decisions and automation of customs processes," he said.
"We have a tool for development and growth - a budget. This year we have sufficient financial resources to ensure priority expenditures. The 2021 State Budget developed by the team of the Ministry of Finance provides opportunities for the recovery and development of the country's economy," the Minister stressed. According to him, a budget discussion is currently underway with the MPs. "For us, the Parliament is a partner, so we will seek consensus – to protect both the interests of citizens and the country's economy," summed up Serhii Marchenko.