Business news from Ukraine

South Korea’s incumbent president’s party leads in polls ahead of election

The ruling party of South Korean President Yun Seok-yol “People’s Power” is leading in popularity according to the results of a public poll ahead of the parliamentary elections scheduled for April, Western media reported citing data from a survey by the Gallup Korea organization.

Thus, according to the survey, about 37% of voters are ready to support the “People’s Power”, while 29% intend to vote for the main opposition Democratic Party. The third most popular among South Koreans is the Korea Innovation Party – it has 12%. This is a new party, it was created by politician Cho Guk, who served as Minister of Justice under President Moon Jae-in.

The poll was conducted by Gallup Korea organization among more than 1 thousand people.

Parliamentary elections in the country are scheduled for April 10.

Earlier, the Experts Club analytical center and Maxim Urakin presented an analytical material on the most important elections in the countries of the world in 2024, more detailed video analysis is available here – https://youtu.be/73DB0GbJy4M

Subscribe to the channel here: https://www.youtube.com/@ExpertsClub

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Leading business associations ask Zelensky to implement important reforms

Participants of the Congress “Reform of the Public Finance System – the Way to Restore Ukraine” and business representatives have called on President of Ukraine Volodymyr Zelenskyy to implement the tasks identified by leading think tanks and business associations as key priorities for this year.

According to a statement released on Friday by the Ukrainian Business Council (UBC), the key institutional reforms include the reboot of the BES and the State Customs Service with the election of the head in an open competition with the decisive vote of international partners, re-certification of employees during the year and approval of KPIs, as well as the establishment of market salaries for employees of the State Customs Service.

Another priority is the reboot of the State Tax Service on the same terms as the State Customs Service, including the creation of high-quality Public Control Councils and the introduction of an inclusive approach to the development of state policies and strategies.

“The work on the draft laws and their submission to the Verkhovna Rada should be preceded by an expert and public discussion of the relevant strategy and state policy. To improve the quality of the legislative process, it is necessary to provide for the mandatory submission of a regulatory impact analysis by all subjects of legislative initiative and the need for a certain minimum number of MPs-authors to register a draft law. Restrict the submission of alternative draft laws on the same issue to prevent legislative spam,” the statement reads.

Regarding the recovery, economic development and preservation of economic potential, the business asks to implement an optimal model of employee booking based on economic indicators, which allows for digital booking of a person liable for military service per day (e-booking), which will increase tax revenues to the budget, de-shadowing of wages and increasing the sustainability of all forms of business, including individual entrepreneurs.

In addition, the business asks to ensure an effective and transparent mechanism for business travel outside Ukraine for business trips for company executives, employees and individual entrepreneurs, as well as to implement systems to support and stimulate entrepreneurship in the areas of possible hostilities in the de-occupied communities.

Addressing the President and MPs, the business calls for preventing pressure from law enforcement agencies, as it leads to significant economic losses and disruption of state budget revenues. To this end, entrepreneurs recommend establishing the principle of presumption of innocence of the taxpayer (so that the body proves its guilt, not the taxpayer), concentrating the functions of pre-trial investigation of economic crimes exclusively in the BES, establishing personal responsibility of investigators (prosecutors and judges) for violations of the CPC and standards of prosecutors’ activities in the field of investment protection during pre-trial investigation, which have already been adopted and should become mandatory.

To reduce the pressure, the business also recommended automating the closure of criminal cases that have been “hanging” for years, providing the necessary safeguards for a quick and impartial pre-trial investigation, setting clear deadlines for pre-trial investigation in all criminal proceedings and judicial control over their observance, setting a deadline for returning seized property or lifting the arrest (10 days), and making the investigator liable for failure to comply with the court decision.

The business also proposes to introduce monthly reporting on criminal cases that have been under investigation for more than 6 months and the property seized (confiscated) in them by law enforcement agencies and to ensure the protection of the rights of participants in criminal proceedings (Draft Law No. 9211 as a basis, with amendments for the second reading).

As part of the reform of the tax system and customs legislation, the business community will ask to reduce the total tax burden on the payroll and replace the income tax with the tax on withdrawn capital after the end of martial law with the preparation of relevant legislative changes in advance, as well as to change the ideology of the SMKOR from “punitive” to analytical, to introduce a deadline for blocking tax invoices with an increase in the mandatory threshold for VAT registration.

The statement of the business associations emphasizes that it is necessary to ensure the preservation of the current simplified taxation system while minimizing its abuse, in particular: to define the criteria for distinguishing between employment and freelance by law. To do this, replace the broad fiscalization of sole proprietors of the 2nd and 3rd groups of the EH with the fiscalization of exclusively risky categories of taxpayers who are likely to reach the EH limits.

The business expects the guaranteed obligations regarding the conditions of doing business in the Diia.city tax regime to remain unchanged for 25 years and to ensure full automatic exchange of information with other countries, as well as to create an effective mechanism for automated comparison of documents on the customs value of goods.

With regard to reducing inefficient state budget expenditures, entrepreneurs are asking to review expenditures to optimize them, increase efficiency of their use, and adapt the amount of public spending to new demographic realities (this includes reducing expenditures on representative bodies of state power, the justice system, education, healthcare, and housing subsidies).

The business also expects the authorities to establish objective KPIs for all budget programs, publicly disclose budget estimates of budgetary institutions, and monitor the effectiveness of spending on government programs.

It is specified that the appeal was signed by 18 business associations, including: Association of Taxpayers of Ukraine, Association of Private Employers, IT-Ukraine Association, All-Ukrainian Agrarian Council, All-Ukrainian Professional Association of Entrepreneurs, SUP, Board, CLUB100, CEO Club, CFO Club, Kharkiv IT Cluster, Oil and Gas Association of Ukraine, CCI, Ukrainian Cluster Alliance, Ukrainian Security Industry Federation, UCAB, Ukrainian Association of Direct Sales, Ukrharchoprom.

The document was also signed by three coalitions of business associations – the USS, the Coalition of Business Communities for the Modernization of Ukraine, and the National Business Coalition.

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Import of goods in 2023 in most important positions to previous 2022

Import of goods in 2023 in most important positions to previous 2022

Source: Open4Business.com.ua and experts.news

Ukrainian President Volodymyr Zelenskyy has indicated 12.4 million UAH of income in his declaration for 2023

The President of Ukraine Volodymyr Zelensky released the declaration of the person authorized to perform the functions of the state or local government on property, income, expenses and financial obligations for 2023.

According to the President’s website, “according to the declaration, the income of the head of state and members of his family amounted to 12 million 423 thousand 008 UAH, including income from the sale of government bonds – 7 million 455 thousand 972 UAH”.

The income of Vladimir Zelensky’s family in 2023 mainly consisted of wages, bank interest and income from the provision of real estate for rent. In total, this amount amounted to UAH 4 million 967 thousand 036.

“The increase in income compared to last year was due to the resumption of rent payments. The cash balance of the head of state’s family by the end of last year decreased by almost 2 million 800 thousand UAH. There were no other significant changes in 2023 in terms of assets, real estate, vehicles, etc.,” – reports the website of the President.

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Mayor of Kiev Vitali Klitschko indicated in declaration for 2023 1 million UAH of income

The mayor of Kiev Vitali Klitschko indicated 1 million 3 thousand 636 UAH of income in the electronic declaration of property and income for 2023.

In particular, in 2023, the salary of the mayor of the Ukrainian capital amounted to his entire income – 1 003 636 UAH. He also indicated in the declaration 338.5 thousand UAH, $35.8 thousand and EUR3 in bank accounts, 209.4 thousand UAH, $52.2 thousand and EUR68.3 thousand in cash, as well as $150 thousand and EUR2.2 million lent to his brother Volodymyr.

Klitschko owns an apartment (251.8 square meters) in Kiev, he is registered in his brother’s apartment (43.6 square meters) in Kiev, as well as owns a vacation home (785.5 square meters) and uses a land plot (2.5 thousand square meters) in Lyutezh, Kiev region (previously owned by his wife).

The mayor also owns a motorcycle Fine custom Puncher 2009, a trailer Ironhorse Widebody 2013 and a car Land Rover Discovery 2013 (previously owned by his wife), as well as free use of three cars: 2 Toyota Sequoia 2021 and Toyota Sequoia 2014, which are rented by his brother.

He also declared: an antique mantel clock (Jacques Murray & Co), 7 men’s wristwatches (2 IWC, 3 Frank Muller, 2 Mont Blanc) and a grand piano (Yamaha).

Among other things, together with his brother, he owns several trademarks: “Klitschko”, “KLICHKO” and “KLITSCHKO”.

According to the declaration, Klitschko owns the corporate rights of two charitable organizations: “Charitable Foundation “Future Kiev” and “Charitable Foundation “Klitschko Foundation”.

As reported, Klitschko declared 1 million UAH of income for 2019, 518 thousand UAH of income for 2020, 646 thousand UAH of income for 2021 and 907.7 thousand UAH of income for 2022.

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There are no schedules of emergency shutdowns in Ukraine – Ministry of Energy

On Friday, emergency shutdown schedules were canceled until the end of the day in all six regions – Dnipropetrovsk, Donetsk, Kirovograd, Poltava, Sumy and Zaporizhzhya, where they were applied during the evening peak load due to grid restrictions and insufficient local generation due to damage to power plants by Russian Federation attacks, the Energy Ministry said.

Its message in Telegram on Saturday notes that as of the morning emergency shutdown schedules are not applied anywhere, and hourly shutdowns are in effect only in Kharkiv region for 120 thousand subscribers, the reason for which is significant damage to the equipment of NEC Ukrenergo by Russian attacks and, as a consequence, the inability to transmit the necessary volume of electricity.

As noted on the air of the telethon “United News” chairman of the Board of “Ukrenergo” Vladimir Kudrytsky, the situation in Kharkiv remains difficult, restoration work continues.

“Today the dispatch center “Ukrenergo” also imposed restrictions in this area. They are less than yesterday, since the weekend, but they remain in place. Also somewhat limited power supply to industry in Dnipropetrovsk region, in particular in Krivoy Rog power hub. In Khmelnitsky and Odessa regions there are no restrictions today”, – described the situation the head of the system operator.

According to the Ministry of Energy, currently there is no electricity deficit in the energy system, it works in a balanced way. It added that yesterday at the request of Poland in the energy system of Ukraine supplied electricity from 12:00 to 15:00 hours.

As a result of the UAV attack on Saturday night, the equipment at one of the substations in Odessa region was disconnected, which left about 70 thousand consumers without light for a short period of time

In addition, in Dnipropetrovsk region, high voltage lines were shut down due to the state of the networks – household consumers, industry, and railroads were left without power supply, where train traffic disruptions were recorded. Within half an hour all consumers were supplied with power.

During the day power engineers have resumed power supply for about 151 thousand consumers, including all those de-energized due to bad weather. In particular, about 18 thousand households, de-energized as a result of unfavorable weather conditions in Kirovograd region, have been restored.

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