Kyiv, December 30 (Interfax-Ukraine) – The taxes imposed on Ukrainian companies that use low tax havens should be increased to a fair level, according to Ukrainian Vice Premier and Social Policy Minister Sergiy Tigipko.
"We are about to start the discussion of legislation that will regulate work with the zones that cannot de jure be named offshore ones, but have much lower taxes than in Ukraine," Tigipko told Interfax-Ukraine.
"I could say now that it’s not about bans, it’s about fair taxes that will have to be paid," he said.
He added that the point at issue are Cyprus, Luxemburg, and some cantons of Switzerland.
According to Tigipko, Ukraine’s international contractual framework doesn’t have any obstacle to the adoption of such a law. "We won’t have to agree anything with anybody if the Verkhovna Rada approves this decision – this is our business, Ukraine’s," he said.
Commenting on bills on luxury tax and on duties on transactions with offshore zones, the vice premier said he was sure that those documents would be adopted some time or other.
"I think that the tax on luxury goods should be introduced. The sectorial ministries and agencies are now working on this bill and it will be submitted to the Cabinet of Ministers soon," he said.
Tigipko added that the adoption of the bill on luxury tax would additionally bring UAH 800 million to the Pension Fund of Ukraine every year.
"Moreover, I hope, we will submit the legislation on offshore zones soon, which would allows us to transfer an additional sum of UAH 3 billion to the Pension Fund," Tigipko said.
