2 Months to Cancel the Single Tax in Ukraine

by Meifan Honcharuk
Monday, July 3, 2023
2 Months to Cancel the Single Tax in Ukraine

The IMF set Ukraine conditions for further cooperation within the framework of the "Extended Fund Facility"

After the first review of the Extended Fund Facility and the provision of $890 million to Ukraine, the board of directors of the International Monetary Fund announced the granting of additional time to Ukraine to adopt a draft law on the abolition of the 2% single tax. The term the IMF is willing to wait for expires at the end of July this year.

The head of the IMF in Ukraine, Gavin Gray, said that this law is needed due to its compliance with the program of gradual financing from the IMF. According to Gray, Ukraine is responsible for its promises, and there have been no delays or postponements in implementing reforms over the past year.

Next, the IMF for adopting several laws to fight corruption, the renewal of mandatory income declaration for public officials and the resumption of the work of the National Agency for the Prevention of corruption.

In September, there will be a review of Ukraine's introduction of amendments to the laws on financial monitoring and the fight against money laundering according to FATF standards. Politically significant persons will be targeted. The second review of the EFF is scheduled for late fall-early winter.

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