Deputy Chairman of the State Fiscal Service (SFS) of Ukraine Yevhen Bambizov says the agency, due to the lack of effective mechanisms to influence debtors to recover tax debt that exceeds UAH 107 billion ($4 billion), insists on expanding its powers.
“Tax debt accounts for 10% of the state budget revenue for the current year. Today it is UAH 107.2 billion. And the figure is growing. The reason is that the State Fiscal Service is deprived of any effective, legally established mechanisms for debt recovery,” he wrote on Facebook.
According to the official, the SFS has developed relevant amendments to the Tax Code of Ukraine on the new debt collection procedure, which are being approved by the Ukrainian Finance Ministry. Bambizov says every tenth payer is a legal entity, while 40% of individual entrepreneurs fail to fulfill their tax obligations.
As Bambizov noted in a blog post on one of the online publications, to bring to justice a more substantial number of violators, the Fiscal Service considers it necessary to reduce the tax claim period to 30 days from the moment it was received from the current 60 days, and increase the limitation period of such cases to six years from the current three years. (UNIAN/Business World Magazine)