Global slowdown erodes government tax revenues

Author: Jakub Parusinski All articles by this author

More about Jakub Parusinski

Aug. 22, 2012 20:23
215 159
The National Bank of Ukraine in mid-August announced tighter rules for companies engaged in international trade, forcing them to use a single bank to settle the foreign currency denominated payments.
Photo by Sohei Yasui

Tighter rules on currency trading for businesses and a 20 percent fall in state revenues in July both point to an increasingly shaky state of Ukraine’s finances. Aggressive tax collection has also weighed heavy on businesses’ coffers, experts say, which are already suffering from the increasingly gloomy global economic situation.

Exclusive article

To support independent journalism in Ukraine and gain access to this Kyiv Post exclusive article, please subscribe.

A Kyiv Post digital subscription is only $1.15 per week - the price of a cup of coffee!

Why support us? There are five reasons to subscribe to Kyiv Post.

Learn More
Subscribe now

215 159

The Kyiv Post is hosting comments to foster lively public debate through the Disqus system. Criticism is fine, but stick to the issues. Comments that include profanity or personal attacks will be removed from the site. The Kyiv Post will ban flagrant violators. If you think that a comment or commentator should be banned, please flag the offending material.

comments powered by Disqus

Read more in {{sectionName}} section

All in {{sectionName}} section