The Ukrainian shadow economy is valued at $21.7B annually and combating it could contribute an additional $4B to the budget in 2025. Danylo Hetmantsev, head of the Verkhovna Rada Finance Committee, revealed that the shadow sector is estimated at ₴800-900B ($21.7B). About 30-50% of the economy exists in the shadows, with some sector... #DanyloHetmantsev #GDPinUkraine #SerhiyMarchenko #ShadowEconomy #UkraineEconomicForecast #UkraineEconomy
Analysts compare the size of Ukraine’s shadow economy with those of other countries. Prior to the full-scale war in 2021, Ukraine’s shadow economy was estimated to be around 30% of GDP. Last year, the Ministry of Economy reported that potentially 40% of the economy could take pl... #Ernst&Young #ShadowEconomy #UkraineEconomy #UkraineShadowEconomy #worldeconomy
Half of the economy, and ₴500B in taxes, are in the shadows, said the head of the Parliamentary Finance Committee, Danylo Hetmantsev. However, he specified that after measures taken by the state, this amount will decrease to ₴420-430B ($10B). At the same time, ... #DanyloHetmantsev #EuropeanIntegration #ShadowEconomy #TaxesUkraine #UkraineEconomy
The tax increase will bring a corresponding increase in Ukraine’s shadow economy. Because of the retrospective increase in taxes from October 1, businesses are transferring their workers to the shadow employment sector. This will increase the shadow economy by 10 percentage points,... #ShadowEconomy #TaxesUkraine #TaxIncrease #UkraineBudgetDeficit #UkraineEconomy
The final adoption of a bill raising taxes may negatively affect the economy: Businesses offer an alternative. The current version of the draft law provides for an increase in the military tax from 1.5% to 5%, a 50% tax on bank profits in 2024, and 25% for non-bank financial institutions. The bill foresees add... #ReformsinUkraine #ShadowEconomy #TaxesinUkraine #UkraineBudget #UkraineBudgetDeficit #UkraineEconomy
The shadow sector in Ukraine reaches 31%. The level of Ukraine’s shadow economy decreased by 1% in the first three quarters of 2021 from 32%, stated the Ministry of Economy. The share of the shadow economy decreased the most in the real... #ShadowEconomy #UkraineEconomy
De-shadowing brought the budget more than UAH 50B . According to Chairman of the Committee on Finance, Tax and Customs Policy Danilo Getmantsev,, the state budget received an additional UAH 14.8B from domestic taxes in December alone, or 42.6% more t... #ShadowEconomy #UkraineShadowEconomy
Tax pressure drives businesses into the shadows. “The authorities should work to reduce tax pressure on business and not increase it, as was done by adopting bill 5600. Under this condition, enterprises will continue to go into the shadow”, said Sve... #EBA #ShadowEconomy #TaxPressureinUkraine
The level of the shadow economy in Ukraine has exceeded 30% of all economic activity. Two of the four methods used to assess the level of the shadow economy recorded an increase compared to January-June 2020, announced the Ministry of Economy of Ukraine. The level of the shadow economy... #ShadowEconomy #ShadoweconomyinUkraine
Off the books transactions account for half of Ukraine’s GDP, Danylo Hetmantsev, estimated the Chairman of the Rada’s Committee on Finance, Tax and Customs Policy, in an interview with Ukrinform, the state-owned news agency. “I believe that the size of the shado... #Offthebookstransactions #ShadowEconomy #UkraineEconomy
