investgazeta.net
The level of shadow economy in Ukraine is higher than according to the official data of Ukraine’s Ministry of Economic Development and Trade, which estimates it at 42%, said Deputy Finance Minister Olena Makeyeva at a meeting of the Finance Ministry.
High level of the shadow economy believed to be one of the main reasons the state receives less tax and duty revenues, according to Makeyeva.
"According to the official data of Economy Ministry, the share of shadow economy is estimated at 42%. But the figures may be much higher based on industrial estimates. For example, the shadow economy accounts for 60% in retail sector. The share of shadow economy in the pharmaceutical industry is at 40%, with 67% in light industry" deputy finance minister noted.
According to Makeyeva, tackling this problem requires introduction of tax incentives for gradual “deshadowing” of business, including a uniform and equal distribution of tax burden, improvement of the simplified taxation system, as well as tax administration.