Cabinet desperate for more tax revenues

19.12.2014 |

The Cabinet wants to take away from Kyiv not 50% but 75% of transfers of funds received after payment of PIT. So, if now Kyiv annually transfer UAH 8.5 9 bn, now the amount of withdrawals from the PIT could reach UAH 12.5 13 bn. Chief of the Budget Committee Andriy Strannikov said the Kyiv authorities insisted on cancellation of withdrawal of the PIT in favor of the state in general. 100% of Kyivans PIT should remain in the city budget, he said. In addition, Strannikov says that the coalition agreement is focused on decentralization of power, but the governments actions with regard to Kyiv actually make it impossible to execute the capitals functions. Strannikov also did not rule out that in case the amount of withdrawal in favor of the state budget is not revised, in 2015 Kyiv will be forced to live based on the scheme of 1/12 of the 2014 budget in 2014.

According to the preliminary findings and considering enrollment to the Kyivs budget of 50% of the PIT, the revenue of the city budget for 2015 is UAH 13.5 bn, however, in case of withdrawal of 75% it will reduce to UAH 11.5 12 bn.

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