Pynzenyk Calls On Businesses to Come Out Of the Shadow and Promises Recognition

KIEV, Ukraine -- The Ministry of Finance of Ukraine made an appeal to entrepreneurs to stop their fight for tax break renewals.

“The Ministry of Finance of Ukraine calls on some businesses to halt their fight for subsidy renewals because under the current conditions this fight is not a fight against the government, but against the large group of citizens that started receiving higher payments thanks to the new social budget”, said Minister of Finance of Ukraine Victor Pynzenyk during his address.

Minister of Finance Victor Pynzenyk

“We appeal to Ukrainian entrepreneurs to legalize their businesses, to pay taxes, and to stop trying to come up with various schemes that would exclude them from taxation”, was stated in the document.

Government policy of tax breaks elimination is aimed at balancing the tax conditions and improving the investment climate, noted in the address.

In addition, the Minister announced that the government is making strides in creating a new liberal system of relationship between business and state government, as well as developing measures directed towards de-regulation and promoting businesses.

“Businesses started to come out of the shadow. And we want to thank everyone who already made this step. We want to thank everyone who is just getting ready to make it. And we appeal to those that are still struggling with this decision, those that still live with the weight of the past. There will be no going back. Step by step we will break down the old system”, stated Pynzenyk in his address.

He also called on businesses to believe in government intentions and to be patient. “We would like to discontinue the practice of overprotective business assistance and state regulatory function as it serves as a breeding ground for breaking the law and limits entrepreneurial activity”.

The Minister of Finance recognized that entrepreneurs still continue to encounter bureaucracy, indifference, incidents of bribery and extortion. Additionally, tax reimbursement decisions for honest exporters take months.

“We know these issues, we understand them and we will be partners in finding the solutions. It is necessary for our whole society… There is the will of the President, there is a government taskforce to solve specific painful issues for our business and society “, - noted the address.

Pynzenyk promised to give special recognition for those who will agree to work with the government. Additionally, the Ministry of Finance will create a “hotline” where entrepreneurs will be able to direct their requests.

The Ministry of Finance will start recognizing businesses with the highest quarterly increase in tax payments, by publishing a quarterly list of the ten leading companies in its financial reports and the media.

Source: Ukrayinska Pravda