Reduction of single social security tax brings success – MP Yuzhanina

14:14, 27.05.2016 1 min read

The reduction of single social tax from January 1, 2016 has brought only success, Chairperson of the parliamentary committee for tax and customs policy Nina Yuzhanina (Petro Poroshenko Bloc) has said.

"Too large burden on the salary fund has resulted in 70% of wages in Ukraine are in the shadows. The real effect from the reduction of single social security tax would be only in the third and fourth quarter of 2016 if there were no statements that single social security tax would be elevated: business should see that the state's decisions are firm," she said.

Commenting on non-payers of single social security tax she said that there are some farmers who do not pay anything to the Pension Fund's budget.

Yuzhanina said that some companies hire employees without registering them. They would receive minimum pension in the future. The issue should be studied in detail.