The government wants to cut tax benefits

15 November 2012 13:21  6824460 025007
The government wants to cut tax benefits

The government is going to eliminate artificial tax preferences.

This was stated by the Finance Minister Yuriy Kolobov during the conference organized by the Association of taxpayers of Ukraine.

"Since independence, the tax benefits, according to our estimates, have accumulated to 100 billion per year. Our goal is to have a level playing field for all, to eliminate all these artificial preferences, "- he said.

"Preferences, in our opinion, should be provided solely for investment and encouraging the implementation of priority projects", - said Kolobov.

In addition, the head of the Ministry of Finance said that the government "will continue the policy of reducing the tax burden on businesses, despite the uncertain financial and economic situation in the world and strict anti-crisis measures taken by individual countries."

"We will work to reduce the cost, taxpayers' time to pay taxes by simplifying forms of reporting tax procedures. One of the measures will be the transition to an annual accounting period for income tax in 2013" - said Kolobov.

Also, he said, the number of taxes will be reduced through combining royalties for hydrocarbons and fees for subsoil use.

The Minister said that the government expects that businesses in return will not seek to shadow their activities.

Ekonomichna Pravda

Tags: Kolobov, Finance, benefits

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