Business news from Ukraine

FINANCIAL POLICE ESTABLISHMENT IS ONE OF FINANCE MINISTRY’S PRIORITIES – FINANCE MINISTER

12 January , 2017  

KYIV. Jan 12 (Interfax-Ukraine) – In the coming days the Ministry of Finance will submit the draft law on the establishment of the Financial Police for consideration of the Cabinet of Ministers of Ukraine, “for which business is waiting for and the IMF memorandum refers to,” Finance Minister of Ukraine Oleksandr Danyliuk said.

“At the end of 2016, due to a technical error, the Verkhovna Rada actually announced the tax police outside the law starting from January 1, 2017 […] Is it worth to fix the mistake again legalizing repressive tax police? It is obvious that it is not. It is necessary to move only forward,” Danyliuk wrote on his Facebook page.

According to the minister, the development and approval of the draft law were completed in September 2016.

The document provides for a number of basic principles on which it is planned to create the Financial Police: replacement of a power approach to an analytical approach; reduction of personnel up to 2, 500 people (with 15,000 now); non-interference in the work of honest business; staff renewal through a transparent competition and an independent selection committee, representatives of the security staff – no more than 25%; salaries, which will reduce the risk of corruption and provide an opportunity to attract the best staff.

“We plan to submit a draft law to the government at the next meeting and send the bill to the parliament after its approval. It is desirable the deputies will avoid “clerical errors,” Danyliuk said.