The size of the shadow economy could reach 400-500 billion hryvnias, but the law on tax increases says nothing about combating the shadow sector – Anna Derevyanko

The new law on tax increases adopted by parliamentarians does not mention the fight against the shadow economy, which, according to estimates, could reach 400-500 billion hryvnia.

This was stated by Anna Derevyanko, Executive Director of the European Business Association, during a briefing at the Media Center Ukraine.

“Conscientious businesses understand that the army must be financed and that there must be money in the state budget. What businesses don’t understand is why only honest businesses should pay. Conscientious businesses are really surprised that there is no effort to fight the shadow economy and why there is no push to generate additional revenue for the state budget from this sector. What we have seen in the draft law and the final law does not contain anything about tackling the “shadow” economy. There is nothing to close the various loopholes that lead to losses in the state budget. According to estimates of conscientious businessmen, the size of the shadow economy today could reach 400-500 billion hryvnia,” she said.

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