The introduction of the SVAM tax should be gradual, as the stimulation of environmental behavior requires large investments, said the holding.
The introduction of the European environmental tax CBAM in Ukraine should be delayed in order not to lose competitiveness in the world market. Metinvest’s financial director Yulia Dankova said this at the XXII Annual Forum of Financial Directors of Ukraine, the holding’s press service reported on Wednesday, October 30.
In his opinion, instead of introducing additional regulation on existing taxes, Ukraine needs to create a new one, similar to the European one. But the introduction of this tax must be gradual, because the stimulation of environmental behavior requires large investments.
Yulia Dankova recalled that all European metallurgical enterprises received billions of euros of government support for re-equipment.
“Unfortunately, during the war, neither the European Union nor the IMF will make such investments in environmental programs, therefore the implementation of SVAM will also have to be postponed at the state level. If environmental taxes are introduced without grants and investments, this will be another minus for Ukraine’s competitiveness in the global market,” he said.
Earlier, Politico reported that Europe is helping Ukraine with funding on the one hand, and on the other it is promoting the SVAM carbon tax, due to which Ukraine will lose 1.4 billion euros annually. At the same time, this damage can be avoided by starting negotiations with the EU, because the CBAM law has a provision where a country can receive tax benefits if it has force majeure events. Ukraine has grounds to ask the EU for a delay in this matter because of a full-scale war with Russia. The environmental tax SVAM will take effect in 2026.
In this regard, Ukrainian business representatives called on the authorities to negotiate with Europe on a carbon tax.
Source: korrespondent
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