The underestimation of the Ministry of Finance of the indicative tax allowed to cover shortfalls plan in may, – the expert

Занижение Минфином индикатива по налогам позволило скрыть недовыполнение плана в мае, - эксперт

According to experts, reduction may indicative 20 billion UAH is a normal camouflage

Nothing prevents the Ministry of Finance to perform a specific in the budget for the 2020 fiscal year at least without a different global adjustments down and without the need for pressure on business. You just need to effectively impose import trade flow.

This was written by the economist Alex Kush in the blog on “Gordon”.

“In Ukraine there is a fixed basis for tax assessment, and any attempt to substantially revise the indicative fee is the usual “machinery” on conducting of financial flows under the “dome of the crisis,” – said the expert.

According to him, if you look at the statistics, the wholesale trade turnover in may 2020 reached the level of February of this year, i.e. the pre-crisis level.

“PrivatBank has conducted analysis of the POS terminals and credit cards for goods: non-cash turnover in may increased by 23% in comparison with the “Docetism”. Even the turnover in the trade sector electronics in may was lower than in February, although April was a drop of 43%. The same dynamics and the network of filling stations may stabilize in April, a drop of 20%”, – says the analyst.

The expert notes that the trading dynamics is confirmed by the index of consumer sentiment, which according to several studies “paradoxically” increased in may compared to April.

Kusch said that “the understatement may indicative for tax collection by 20 billion UAH is a common camouflage or smokescreen to cover the shortfall of the plan for fees in may by 26%”.

“But the reduction of the indicative allowed to show the “exceeding” 9%”, – concluded the expert.

Previously, experts noted that with the lowering of indicative charges in may by a third or about 20 billion UAH was supposedly demonstrated the effective work of tax authorities.

Занижение Минфином индикатива по налогам позволило скрыть недовыполнение плана в мае, - эксперт