Yatseniuk wants to increase taxes for oligarchs

Tuesday, December 23, 2014 - 11:31 (EET) Section: Latest news

The Cabinet of Ministers will submit to the Verkhovna Rada of Ukraine the bills envisaging an increase in taxes for oligarchs.
Ukrainian Prime Minister Arseniy Yatseniuk said this, while opening a government meeting on Monday, an Ukrinform correspondent reported.
“As part of tax fairness we are introducing new approaches to the taxation of big business or, as they call it in a populist manner, oligarchic business. First of all, we have increased interest rates on rent, such as ore, oil, gas and [gas] condensate,” Yatseniuk said.
The government also proposed cancelling and denouncing an agreement between Ukraine and Cyprus, because of which “about [UAH] 6 billion was not taxed annually.”
“I want to separately stress that the cancellation of this agreement does not foresee the termination of a special taxation regime, because Cyprus should also denounce it,” Yatseniuk said, adding that the Ukrainian Foreign Ministry, after the parliamentary voting, will get the right to immediately start negotiations with Cyprus.
The prime minister said that the government wants to deprive big business of the opportunity to hide income in offshore zones and sell goods at a price lower that the market price.
He said: “Anyone who earns more should pay more. Anyone who earns less and requires social assistance will get targeted social assistance.”