The corresponding changes are aimed at maintaining a favorable situation in the foreign exchange market, the regulator said.
Since April 21, the National Bank of Ukraine has expanded the ability of banks to conduct transactions for the sale of foreign currency in cash to the population. This was announced yesterday by the press service of the regulator.
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So, from today, when calculating the amount of foreign currency in cash that a bank can sell on the foreign exchange market, not 100%, but 120% of the amount of purchases of non-cash money from the population as of April 13, 2022 will be considered.
“The relevant changes are aimed at maintaining a favorable situation in the foreign exchange market,” the report said.
In addition, since April 21, the NBU has softened some administrative restrictions. This was done to create conditions for the launch of the e-residency project and to strengthen positive trends in the cash segment of the foreign exchange market.
The National Bank made it possible for e-residents (after paying taxes in Ukraine) to transfer funds in foreign currency to their accounts abroad, received in accounts in Ukrainian banks from non-resident (for services or work rendered).
According to the NBU, the relevant changes will not put pressure on the foreign exchange market and international reserves of Ukraine, because within the framework of such operations there will be no purchase of foreign currency – the transfer will be carried out at the expense of the foreigner money received by the e-resident from another country.
“Implementation of the e-residency project will help attract additional revenues to the state budget, popularize Ukraine as a global IT brand and improve Ukrainian positions in international rankings,” the message said.
Remember that from April 1, 2023, changes to the Tax Code began, allowing foreign citizens who received e-resident status and registered themselves as an individual entrepreneur to conduct business activities and pay taxes in Ukraine without leaving their country of residence or stay.
As part of the implementation of this project, since March 8, the NBU has given e-residents the opportunity to open current accounts for business activities in a bank where the Ministry of Digital Transformation of Ukraine has concluded of the corresponding agreement.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.