16:13 12.03.2018

Poroshenko proposes tax on removed capital introduced for SME at first stage as compromise

1 min read
Poroshenko proposes tax on removed capital introduced for SME at first stage as compromise

Ukrainian President Petro Poroshenko has proposed to introduce a tax on withdrawn capital for small and medium-sized enterprises (SME) as a compromise option.

"I am ready for any compromises ... At the first stages this may concern small and medium-sized businesses," he said at a meeting with businesses in Kyiv.

At the same time, the president noted he does not intend to submit to parliament a bill on the tax on withdrawn capital, which supposes the replacement of profit tax, and put this legislative initiative for repeated discussion.

Poroshenko instructed the Ministry of Finance to provide new calculations of the financial result and argumentation for imposing a tax on withdrawn capital, since the existing calculations are incorrect.

"The estimation that only dividends will be attracted to the national budget ... is incorrect," the president said.

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