Foreign investors are bypassing Ukraine on the tenth road
Ukraine, with its tax policy, scares off investors and pushes foreign companies to other countries, and with the adoption of the budget for 2021, tax pressure on business will increase even more.
Ex-Deputy Chairman of the NBU Board Alexander Savchenko stated this at a press conference in Kyiv, a PolitNavigator correspondent reports.
“The main flaw of this budget is the increase in tax pressure on business and people. This does not correspond to the slogans of the ruling party and the president; everything is happening the other way around. And if we add to the increase in taxes confusion in management and in their payment, then the picture will be completely bad.
I analyzed these taxes methodologically and came to the conclusion that not a single normal company will enter Ukraine. Foreign investment is almost impossible. Here they adopted so many different restrictions and requirements that they essentially blocked the entry of all direct investment into Ukraine. On the contrary, normal companies are being pushed beyond the borders of Ukraine.
And unfortunately, the consideration of this budget has only made this already bad situation worse. And so foreign investment has been negative for two years,” Savchenko said.
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