Yesterday, the Verkhovna Rada passed Bill No. 11416-d on tax increases in its entirety.** The ‘historic’ tax hike was supported by 247 deputies, with 40 voting against, 11 abstaining, and 26 not voting. The bill now awaits the president’s signature to become law. The government argues that the additional funds are necessary to address the shortfall in military financing. According to their estimates, the proposed tax changes are expected to bring an additional UAH 58 billion to the budget this year and UAH 137 billion next year.
**How is the business community reacting? Extremely critically!** Businesses that operate transparently, paying taxes diligently, and supporting the country’s economy in both peacetime and wartime, feel that this bill further complicates their already difficult circumstances. Instead of supporting these responsible businesses, Bill No. 11416-d could make their survival harder.
**The European Business Association (EBA)** has criticized the government’s approach, suggesting that instead of raising taxes, the focus should be on the "untapped fiscal potential of the shadow economy" to prevent legitimate businesses from moving into the shadow economy.
To balance opinions, it’s important to hear the perspectives of influential economic players.
Viacheslav Petryshche shared his view on Facebook: https://www.facebook.com/story.php?story_fbid=4614292012130164&id=10000…