You're reading: Ukrainian budget to lose Hr 6 billion if tax benefits for cattle breeding canceled, says expert

The Ukrainian budget will under-receive UAH 6 billion if tax benefits for the cattle breeding sector are canceled, Chairman of the Union of Poultry Farmers of Ukraine Oleksandr Bakumenko has said.

“What could happen? The numbers of pigs, birds, and cattle will fall. We’ve preliminary calculated that the negative effect is minus UAH 6 billion from GDP. This is a 17% fall in meat, milk, egg and other food production,” he told reporters at the All-Ukrainian Agrarian Forum in Kyiv on Friday, October 18.

The expert also said that the unpredictable change in taxation laws would affect the investment attractiveness of the sector.

As reported, the Income and Tax Ministry of Ukraine is studying the reform of taxation in agriculture, in particular, the cancellation of tax benefits for cattle breeders.