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Tigipko: Introduction of 15% levy on currency sales will lead to no good

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Nov. 27, 2012, 6:09 p.m. | Ukraine — by Interfax-Ukraine

Vice Prime Minister and Social Policy Minister Sergiy Tigipko has slammed the possible introduction of a 15% obligatory pension levy on currency sales by individuals.
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Vice Prime Minister and Social Policy Minister Sergiy Tigipko has slammed the possible introduction of a 15% obligatory pension levy on currency sales by individuals. 

"I take this very negatively. This will lead to no good – [it will] only strengthen the shadow market," he told journalists in Kyiv on Tuesday.

As reported, the head of the parliamentary committee for finances, banking operations, tax and customs policies, MP Vitaliy Khomutynnyk, on November 16 registered bill No. 11433 on the introduction of a 15% fee to the Pension Fund from the sale of cash foreign currency by individuals.

The NBU estimated the volume of individuals' cash foreign currency at $50 billion.

The Verkhovna Rada last week postponed the consideration of the bill for an indefinite period. 

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