The National Bank of Ukraine supports the payment of advance fees, as exchangers pay almost no tax to the budget.
The National Bank of Ukraine (NBU) supports the draft law on the payment of advance fees on income tax by currency exchange offices, which was adopted by the Rada in the first reading, as exchangers pay almost no taxes. This was reported by the press service of the NBU.
In particular, according to the regulator’s estimates, in 2021, the corporate income tax paid by non-banking financial institutions that trade monetary values in cash will reach almost UAH 7 million per year for the entire market .
The total amount of money sold in 2021 within the non-banking segment of the cash foreign exchange market was UAH 384 billion. This is double the volume of foreign exchange transactions conducted through banks.
At the same time, the average amount of income tax paid by a unit of relevant non-banking institutions (of which there are about 4,000 by the end of 2021) is about UAH 145 per month.
“The same trend continued in the first half of 2022 – the average amount of income tax paid by a division of relevant non-banking institutions was UAH 165 per month,” NBU said.
Remember, the NBU said that the need for banks and non-banking institutions to buy money from citizens at a rate not lower than the official can potentially limit the strengthening of the Hryvnia.
The previous day, the National Bank noted that the turmoil in the cash market had subsided.
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Source: korrespondent
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