Government approves four draft laws required to secure third EUR 1.45 billion tranche of EU macro-financial assistance

The Government has approved and submitted to the Verkhovna Rada four draft laws required to fulfil Ukraine’s international commitments and secure external financing, Prime Minister of Ukraine Sergii Koretskyi announced.

“These measures form part of Ukraine’s commitments to the EU and the IMF and are a condition for receiving the third tranche of macro-financial assistance, worth EUR 1.45 billion,” the Prime Minister said.

The first draft law would simplify VAT administration for individual entrepreneurs. It would also raise the threshold for unscheduled inspections relating to VAT refunds and negative VAT balances from UAH 100,000 to UAH 1 million.

The second draft law would align Ukraine’s transfer pricing rules with OECD and EU standards.

The third draft law concerns capital markets. It proposes bringing key institutions together within a holding structure and attracting an international strategic investor through an open competition.

The fourth draft law is designed to improve the efficiency of the High Anti-Corruption Court. It would allow a single judge to hear civil cases concerning the recognition of assets as unjustified and their recovery by the state, as well as administrative cases involving the imposition of sanctions.

“Effective cooperation between the Government and Parliament will determine whether Ukraine receives a significant share of the USD 29.5 billion in funding expected from international partners,” Sergii Koretskyi emphasised.

The Prime Minister stressed that the Government counts on the Verkhovna Rada to support the draft laws needed to maintain the country’s financial resilience and meet its defence needs.