Ukraine will start raising taxes on banks first if the IMF requests higher taxes.

As of today, the Ministry of Finance does not foresee changes in the tax system anytime soon, and there is no need to talk about tax increases, Minister of Finance Serhiy Marchenko said at the EBA Global Outlook event. However, if the IMF starts discussions on the introduction of additional taxation, then banks will be taxed first.

“Therefore, we have fears that if we have discussions with the IMF regarding additional taxation, it will be a sector that receives excess profits,” the minister said. At the same time, as he noted, these will be extreme measures if the state does not have enough external funding.

“We are finishing this year quite confidently. I hope that we will be able to fulfill all our obligations. First, this concerns the fulfillment of obligations to the security sector. These are key budget expenditures. Now they are fully financed,” Marchenko clarified.