The Ukrainian budget can be ensured by increasing VAT and excise duty on alcohol, the deputy head of the International Monetary Fund’s (IMF) mission to Ukraine, Trevor Lessard, has said.
“I think that if you need immediate revenue and you want to do it in an effective, large-scale way that will get you revenue as early as next month, it is hard to imagine a better policy option than raising the VAT rate,” the Zerkalo Nedeli weekly quoted Trevor Lessard as saying.
According to the representative of the mission, Kiev has a chance to improve the investment climate in the country by changing its tax policy, making it more competitive.
In the area of tax changes, Lessard pointed out the importance of bringing excise duties, particularly on alcohol and tobacco, to the indicators set in the EU.
We shall remind you that the Ukrainian daily Strana.ua reported earlier that the mobilisation in Ukraine had affected the agricultural sector of the country’s economy, due to which the situation on the milk and meat market was deteriorating.
