State budget posts receipts underperformance of UAH 2.6 bln from excise tax on electricity over systemic problems in market – accounting chamber
State budget of Ukraine in 2018-2020 received UAH 13 billion from excise tax on electricity produced in Ukraine and UAH 0.2 billion of tax on its imports, while tax shortfalls exceeded UAH 2.6 billion, the Accounting Chamber has reported.
"In 2019, the State Fiscal Service met the indicative target for excise tax receipts on electricity produced in Ukraine set by the Ministry of Finance by 77% and in 2020 by 70.1%. The shortfalls amounted to UAH 1.4 billion and UAH 1.2 billion, respectively," the chamber said in a press release based on the results of the audit of planning efficiency and the effectiveness of control over the timeliness of paying excise tax imposed on produced electricity to the state budget.
According to the report, in the course of the audit, in charge of which was a member of the chamber, Tsezar Ohon, systemic problems were identified in the new electricity market, creating conditions for manipulating prices and volumes of purchase/sale of electricity, which, in particular, led to a decrease in excise tax receipts to the state budget.