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The Cabinet of Ministers will ask the deputies of the Verkhovna Rada to cancel the duty-free import of cars into Ukraine by citizens. Budget expenditures significantly exceed revenues.

Return as it was: why Ukraine will cancel

This is reported by RBC-Ukraine with reference to the statement of Finance Minister Serhiy Marchenko at a meeting of the Rada Committee on Finance, Tax and Customs Policy, which was broadcast on Youtube.

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“In May, we collected UAH 101.3 billion from the general fund,” he said , noting that the Tax Service collected UAH 73 billion, and the Customs Service – UAH 9.5 billion.

At the same time, the costs amount to UAH 251 billion. “That is, you can compare the real need for spending and real income,” he said.

Marchenko recalled the government project, which provides for the restoration of customs duties and VAT, including for cars of citizens. “We consider this an urgent and necessary step,” he said, adding that the government is asking the Rada to restore customs taxes “as it was before the start of the war.”

According to him, this will make it possible to collect additional funds and reduce borrowing.

Recall that the Cabinet of Ministers submitted to the Verkhovna Rada a draft amendment to the Tax Code regarding the revision of certain tax benefits. It is proposed to abolish the duty-free import of cars into Ukraine by citizens.

Natasha Kumar

About Post Author

Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@timeshub.in
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