05/02 15:00 EBA Finance Committee - EBA Odesa Branch

Kateryna Morozova, EBA Southern Branch Regional Coordinator, took an introductory word. She summed up the activity of the EBA Southern Branch Finance and Tax Committee in 2009, told about organized events and success that Committee reached.

In her turn, Head of Finance and Tax Committee Inna Arvat-Stepicheva informed participants about Committee’s progress regarding application of code 67-20 «Auxiliary activity in the field of insurance» and inclusion of this code to the list of types of entrepreneurial activity that fall under the united tax application.

During the meeting participants discussed prospects of further Committee work and topics for Committee Meetings in 2010. Representatives of insurance companies INGO and FORTIS proposed to organize a meeting with representatives of State Tax Administration in Odesa region and representatives of Odesa Regional Pension Fund. The purpose of such meeting is to discuss new tax legislation. Representatives of NIKI and Baker Tilly Ukraine also offered to add such questions to the agenda of the meeting: seamen’s taxation and using of tax pledge during company’s restructuring.

Pavlo Pedina, Deputy Director of Private Banking Department of UkrSibBank Southern Regional Division, reported on the situation on money-and-credit market of the country. He noticed that the situation on money-and-credit market in 2009 was characterized by consolidation of stabile tendencies. It showed up in acceleration of rates of public deposits flow-in to the bank system and continuation of positive dynamics of banks’ credit activity. Gross volume of deposits in November 2009 increased on 0,9% - it almost equals 320,0 million grivnas. It happened due to 1, 5% increase of individuals’ means. Increase of public deposits happened due to growth of deposits in foreign currency (1,9%) and in national currency (1,1%).

At the end of the meeting participants decided to conduct Finance and Tax Committee meetings of the EBA Southern Branch once in a quarter. It was agreed to organize the next Committee meeting in April 2010 and to invite to this meeting representatives of State Tax Administration in Odesa region.