"A fair tax system and a well-balanced budget are the best basis for the development of the Ukrainian economy"

All of us want to see economic growth and more investments into Ukraine as soon as possible. These are a fair tax reform and a well-balanced budget which are the best basis for the development of the Ukrainian economy», Minister of Finance of Ukraine Natalie Jaresko said after her meeting with the representatives of the governing coalition in the Parliament on Wednesday, November 25, which was chaired by Parliament’s speakerVolodymyr Hroisman.

According to Natalie Jaresko, the Ministry of Finance is ready to present the Government the draft tax reform on December 2 which shall significantly simplify the tax system and secure clear, equal and fair regulations for all tax payers as well as simplify tax revenue management and thus help eradicate corruption and reduce biased decisions by tax authorities.

«I am convinced that the tax reform – apart from creating simpler rules, improving tax revenue management and creating equal rules for all businesses in the country – must bring more fairness in the taxation of citizens. We are not in position to acknowledge the tax system which reduces taxes for the rich and increases them for the poor. We also oppose any tax exemptions for selected businesses», the Minister of Finance emphasized.

According to Natalie Jaresko, the policy of the Ministry of Finance is meant to support macroeconomic stability reached jointly by the government, the President, the governing coalition and the National Bank. The reform should also be in line with the goal of the Finance Ministry and the entire Government to continue effective cooperation with the IMF under the Extended Funding Facility and to receive the next tranche from the IMF as well as, accordingly, a loan guarantee from the USA and other financial aid from the international partners of Ukraine. The condition for this goal to be reached is the adoption of the balanced state budget for 2016 by the Parliament and the adoption of the tax reform able to establish a fair tax system.

"Presenting our draft of the tax reform, we hope to enjoy a productive cooperation in the Parliament", Natalie Jaresko said.

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