Memorandum with IMF: Ukraine to suspend introduction of pension system's second tier

REUTERS Ukraine has promised under a new 14-month Stand-By Arrangement with the International Monetary Fund (IMF) to suspend the introduction of the second tier of the pension system. Read alsoUkraine&#39;s Rada passes bill to additionally allocate over US$385 mln in pensions in 2018 This is stipulated in the Memorandum of Economic and Financial Policies, approved by the IMF Executive Board on December 18 and available to UNIAN. According to the new program, there will be no tax amnesty, but this restriction does not exclude the possibility of holding a future campaign for a one-time declaration of personal assets, subject to prior approval of its conditions and justification of objectives with the Fund&#39;s experts. In addition, during the period of the new program, there will be no new tax benefits and the corporate income tax rate will not be lowered. At the same time, Ukraine will continue the dialogue with IMF experts to search for the possibility of introducing exit capital tax in the form of a neutral, balanced and stable fiscal model of distributed profit taxation. As UNIAN reported earlier, the IMF Executive Board approved a new 14-month Stand-By Arrangement worth $3.9 billion for Ukraine with the immediate allocation of the first $1.4 billion tranche.

Memorandum with IMF: Ukraine to suspend introduction of pension system's second tier

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