Business news from Ukraine

UKRAINIAN PRESIDENT PLANS TO VISIT GERMANY

Ukrainian President Petro Poroshenko plans to visit Germany in April, his press secretary, Svyatoslav Tsegolko, has said. “Right after Easter [on April 8] I plan to make a visit to Germany,” Tsegolko quoted the head of state as saying.

PRESIDENTIAL ADMINISTRATION’S APPEAL TO IMF REGARDING EXIT CAPITAL TAX COMPLICATES ITS INTRODUCTION – FINANCE MINISTER

The appeal of the presidential administration to the International Monetary Fund (IMF) regarding the reaction to the legislative initiative to introduce an exit capital tax in Ukraine makes it difficult to introduce this tax, Finance Minister Oleksandr Danyliuk has said. “I think it would be reasonable, especially considering that this is the initiative of the Ministry of Finance [the bill on exit capital tax], to ask the finance minister, who coordinates work with the IMF, about the position of the IMF … Now this has created some difficulties both for the president and for us, but I think we will get out of this situation,” the minister said on the air of the NV radio.
He stressed the bill does not provide for how to compensate for budget losses when replacing profit tax with exit capital tax. The Ministry of Finance, in turn, proposes to foresee such compensatory mechanisms in the Budget Resolution and send it to the parliament together with the bill on exit capital tax. “Why did the IMF react negatively? Because the presidential administration decided to send the bill there. Of course, the IMF sees risks that there is a plan to implement such a bill without compensatory mechanisms,” he said.
He also noted that, according to the ministry’s calculations, budget losses from replacing profit tax by exit capital tax will amount to UAH 25 billion in the first year, and UAH 31 billion in the second year.

JAPAN WANTS TO TRANSFER DIGITAL RADIO EQUIPMENT TO UKRAINE’S POLICE

The government of Japan together with the United Nations Office for Project Services (UNOPS) will transfer digital trunking radio communications equipment to the main directorate of the National Police of Ukraine in Sumy region. “We continue cooperation within the framework of the program for the development of material and technical capacity of the National Police. The government of Japan together with the UN Office for Project Services will soon transfer equipment of digital trunking radio communications to the main department of the National Police in Sumy region,” Interior Minister of Ukraine Arsen Avakov said at a meeting with Ambassador of Japan to Ukraine Shigeki Sumi.
According to Avakov, Japan is a reliable partner in all projects of the Interior Ministry of Ukraine. “Thanks to the government of Japan for a systematic and fruitful cooperation,” he added. The ambassador assured the minister in further support of the initiatives of the Ukrainian ministry on the way of reforming the civil security sector in the country.