May 24, 2022, 15:25

Different economic sectors need to be taxed differently depending on how much russian aggression affected them — KSE President Mylovanov

 Economic sectors affected by the war may be exempt from taxes. Instead, those sectors of the economy that are currently profitable have to pay taxes in full, President of Kyiv School of Economics (KSE), Advisor to the Head of the Office of the President of Ukraine Tymofiy Mylovanov said at a briefing at Media Center Ukraine.

According to him, many companies are now helping the military. The tax system should factor this in and reduce the fiscal burden on such businesses. On the other hand, there are companies with good profits that are trying to engage in the shadow economy and avoid paying any taxes to the state. Certain penalties should be imposed on such enterprises. “In this situation, we cannot just pass the law, we need to figure everything out. The tax system needs to be changed during the war, so that it can respond to challenges. And this is very difficult to do in practice because of who will make the decision. A tax official? We know how much trust they have. Therefore, I would choose different taxes for different industries,” — KSE President said.

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