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Ukraine will lose tens of billions due to tax benefits

Украина потеряет десятки миллиардов из-за налоговых льготIn particular, the government will lose 26 billion.

The total amount of tax incentives will grow next year by 1.1 billion hryvnia – to 26.3 billion.

This is stated in the accompanying materials to the state budget No. 7000.

In the current fiscal year are expected losses of the consolidated budget (state budget) because of the legal tax benefits at the level of 25.2 billion UAH, which, however, is the lowest level in recent years.

Because even in 2015, the fiscal losses amounted to 55.4 billion.

Benefits in recent years has declined due to the abolition of VAT exemptions in the agricultural sector. As exemptions from VAT remain in other segments, for example, medicines are subject to tax at the rate of 7%, the amount of VAT exemptions remains in 2018 substantial (UAH 16.2 billion).

Second in importance are the exemptions from payment of property tax (7.9 billion).

In 2018 the consolidated budget also will miss 1,289 billion UAH of income tax, 674 million UAH of excise duty, 209.4 mln UAH of the fee for Parking, 24 thousand UAH tourist tax.

Tax benefits are advantages provided to certain categories of payers of taxes, fees to other payers and are to the full or partial exemption from tax.

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