The business warned the authorities about the consequences of introducing a 10% foreign currency fee

The introduction of additional fees could lead to a halt in some sectors of the economy, as well as hit the foreign exchange market and prices.

The introduction of a 10% fee in foreign currency for the purchase of imported goods will stop the Ukrainian industry, said the Ukrainian National Committee of the International Chamber of Commerce (ICC). They turned to the prime minister, the head of the National Bank and the head of the tax committee of the Verkhovna Rada with a request not to introduce additional fees.

“The unreasonable introduction of additional duties and taxes on imports in a war will lead to an increase in smuggling, a black currency market, barter relations and the shadow economy,” the letter said.

In particular, it threatens to completely stop the processing industry, including strategic industries, because the industry imports a significant part of resources, equipment, parts and services and pays in foreign currency. As a result, tax revenues in the budget will decrease and large cuts will follow.

In addition, the introduction of an additional fee threatens to increase the devaluation of the hryvnia due to the collapse of export earnings, acceleration of inflation, complicating the post-war recovery of the Ukrainian economy and worsening relations with the EU, UK and US , the ICC said.

Finance Minister Sergei Marchenko announced the development of the Cabinet of Ministers of additional duties on imports. The initiator is the National Bank. It provides for the introduction of a 10% fee on foreign exchange transactions for the purchase of all imported goods and services.

The text of the bill has not yet been registered in the Rada.

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