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EBA Executive Director commented on the state of business and the assessment of new tax regulations

15/ 10/ 2024
  On October 14, Anna Derevyanko, Executive Director of the European Business Association, joined a briefing of the Media Center Ukraine to comment on the state of business during the war and the impact of new tax regulations on its operation. https://www.youtube.com/watch?v=7ms5hUsp1Pg Please be reminded that the Verkhovna Rada of Ukraine adopted the Draft Law No. 11416-d on tax increases on October 10. This law provides for an increase in the rate of military levy and several other taxes. Therefore, Anna spoke about the impact of the Draft Law No. 11416-d on business.  Also, trends, challenges, and opportunities for companies in the third year of full-scale war were discussed.  Anna Derevyanko expressed concern that additional taxation will affect not only the business itself but also consumers. After all, the direct consequences of the tax increase will be the transition of some companies to the shadow market and decrease in real income. At the same time, Anna drew attention to alternative solutions: the fiscal potential of the shadow economy and the economic reservation of employees.  Despite the challenges connected to mobilization, attacks on the Ukrainian energy system, tax increases, etc., more than half of the EBA member companies predict positive dynamics and growth in their revenues in hryvnia in 2025.  Thank you to the Media Center Ukraine for inviting us to this briefing to discuss important issues for the business community.

On October 14, Anna Derevyanko, Executive Director of the European Business Association, joined a briefing of the Media Center Ukraine to comment on the state of business during the war and the impact of new tax regulations on its operation.

Please be reminded that the Verkhovna Rada of Ukraine adopted the Draft Law No. 11416-d on tax increases on October 10. This law provides for an increase in the rate of military levy and several other taxes. Therefore, Anna spoke about the impact of the Draft Law No. 11416-d on business.  Also, trends, challenges, and opportunities for companies in the third year of full-scale war were discussed

Anna Derevyanko expressed concern that additional taxation will affect not only the business itself but also consumers. After all, the direct consequences of the tax increase will be the transition of some companies to the shadow market and decrease in real income. At the same time, Anna drew attention to alternative solutions: the fiscal potential of the shadow economy and the economic reservation of employees. 

Despite the challenges connected to mobilization, attacks on the Ukrainian energy system, tax increases, etc., more than half of the EBA member companies predict positive dynamics and growth in their revenues in hryvnia in 2025. 

Thank you to the Media Center Ukraine for inviting us to this briefing to discuss important issues for the business community.

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