News Feed Item

Ukrainian Prime Minister Pursues Tax Reforms Of Former Minister Oleksandr Klymenko

Innovations of Previous Ukrainian Revenues and Duties Minister Embraced

KIEV, Ukraine, Aug. 27, 2014 /PRNewswire/ -- While engaging in public dialogue concerning critical tax reforms, Ukrainian Prime Minister Arseniy Yatsenyuk has largely supported previous initiatives established by former Ukrainian Minister of Revenues and Duties Oleksandr Klymenko (http://oleksandrklymenko.com).  As detailed in a recent Ukrainian media report (http://finance.obozrevatel.com/business-and-finance/81529-yatsenyuk-vnedryaet-nalogovyie-reformyi-po-retseptam-klimenko.htm), Yatsenyuk welcomes much of Klymenko's tax restructuring efforts with the common goal of benefitting taxpayers.

Ukrainian Prime Minister Arseniy Yatsenyuk has largely supported previous initiatives established by former Ukrainian Minister of Revenues and Duties Oleksandr Klymenko. As detailed in finance-oriented Obozrevatel, Yatsenyuk welcomes much of "reformer" Klymenko's tax restructuring efforts with the common goal of benefitting taxpayers.

The news item, appearing in the finance-oriented Obozrevatel outlet, notes that efforts of current Minister of Revenues and Duties Igor Bilous have largely remained "ambiguous."  The report further observes the restructuring strategies presently in discussion by the Ukrainian leadership were first planned by "reformer" Oleksandr Klymenko (http://oleksandrklymenkotaxesukraine.com) and designed to reduce the burden on taxpayers' income. 

The shared focus of Klymenko, who served as Minister of Revenues and Duties from December 2012 to February 2014, and the current government, centers on the administration of the Unified Social Tax (UST) and Tax on Individual Personal Income (TIPI) with the aim of lowering overall rates and especially the portion paid by employers.  An effective approach, as advocated by Klymenko, achieves substantial progress in reducing the practice of 'under the table' salary payments – a significant issue facing Ukraine's tax authorities.

Government proposals regarding the tax on personal income also echo Klymenko's positions.  The models currently under consideration all share one common theme – the introduction of differential rates dependent on income level as well as the cancellation of the preferential rate on passive income.

Successive measures planned by Yatsenyuk repeat principles of Klymenko's administration, including the reduction of taxes and elimination of non-essential fees from which the state derives little, if any, gain.

Another concept championed by Klymenko (http://oleksandrklymenko4euintegration.com/) and supported by Yatsenyuk is the harmonization of tax accounting.  At a meeting with the European Bank for Reconstruction and Development (EBRD) in February 2013, Klymenko outlined the functions of the newly-created Investment Council within the Ministry of Revenues and Duties: to combat corruption, ensure transparency, facilitate foreign investment and articulate tax advantages for foreign investors, including swift and competitive VAT repayments. The EBRD President commended Klymenko for the reforms he initiated in the Ukrainian tax system, pledged support for the Investment Council and specifically lauded the leader for his role in fighting corruption.

A report in Forbes Magazine (http://forbes.ua/news/1374750-klimenko-tamozhnya-nedosobrala-4-mlrd-grn-v-byudzhet) outlines the transformations instituted while Klymenko was in office to be "de facto, ready-to-go solutions for carrying out further reforms. These include electronic reporting, service centers throughout Ukraine and up-to-date monitoring centers to fight the country's shadow economy."

For additional information:
Andrey Sokolov, Adviser to Oleksandr Klymenko
[email protected] / +380677658787

Photo - http://photos.prnewswire.com/prnh/20140827/140377

SOURCE Office of Oleksandr Klymenko

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Transformation Abstract Encryption and privacy in the cloud is a daunting yet essential task for both security practitioners and application developers, especially as applications continue moving to the cloud at an exponential rate. What are some best practices and processes for enterprises to follow that balance both security and ease of use requirements? What technologies are available to empower enterprises with code, data and key protection from cloud providers, system administrators, inside...
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
To Really Work for Enterprises, MultiCloud Adoption Requires Far Better and Inclusive Cloud Monitoring and Cost Management … But How? Overwhelmingly, even as enterprises have adopted cloud computing and are expanding to multi-cloud computing, IT leaders remain concerned about how to monitor, manage and control costs across hybrid and multi-cloud deployments. It’s clear that traditional IT monitoring and management approaches, designed after all for on-premises data centers, are falling short in ...
Consumer-driven contracts are an essential part of a mature microservice testing portfolio enabling independent service deployments. In this presentation we'll provide an overview of the tools, patterns and pain points we've seen when implementing contract testing in large development organizations.
With more than 30 Kubernetes solutions in the marketplace, it's tempting to think Kubernetes and the vendor ecosystem has solved the problem of operationalizing containers at scale or of automatically managing the elasticity of the underlying infrastructure that these solutions need to be truly scalable. Far from it. There are at least six major pain points that companies experience when they try to deploy and run Kubernetes in their complex environments. In this presentation, the speaker will d...
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
Containers and Kubernetes allow for code portability across on-premise VMs, bare metal, or multiple cloud provider environments. Yet, despite this portability promise, developers may include configuration and application definitions that constrain or even eliminate application portability. In this session we'll describe best practices for "configuration as code" in a Kubernetes environment. We will demonstrate how a properly constructed containerized app can be deployed to both Amazon and Azure ...
We are seeing a major migration of enterprises applications to the cloud. As cloud and business use of real time applications accelerate, legacy networks are no longer able to architecturally support cloud adoption and deliver the performance and security required by highly distributed enterprises. These outdated solutions have become more costly and complicated to implement, install, manage, and maintain.SD-WAN offers unlimited capabilities for accessing the benefits of the cloud and Internet. ...
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
DXWorldEXPO LLC announced today that "IoT Now" was named media sponsor of CloudEXPO | DXWorldEXPO 2018 New York, which will take place on November 11-13, 2018 in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
SYS-CON Events announced today that Silicon India has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Published in Silicon Valley, Silicon India magazine is the premiere platform for CIOs to discuss their innovative enterprise solutions and allows IT vendors to learn about new solutions that can help grow their business.
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
In this presentation, you will learn first hand what works and what doesn't while architecting and deploying OpenStack. Some of the topics will include:- best practices for creating repeatable deployments of OpenStack- multi-site considerations- how to customize OpenStack to integrate with your existing systems and security best practices.
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5–7, 2018, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buye...