The tax on unofficial income will hurt the families of migrant workers in Ukraine
Checks on unofficial income that the tax service will begin this year will jeopardize the ability of migrant workers to send money to their families in Ukraine.
Economist Andrei Novak stated this at a press conference in Kyiv, a PolitNavigator correspondent reports.
“Of course, this is a concern for workers. According to various estimates, we have 3 million permanent workers, and another 3 million seasonal workers every year. This is a huge number of people. By the way, migrant workers provide the basis for Ukraine’s foreign exchange balance; over the past year, official transfers from migrant workers alone amounted to almost $13 billion,” he noted.
“For comparison: foreign direct investment amounted to $2 billion, that is, the foreign currency that we receive from them forms the basis of the foreign exchange balance. Therefore, the hryvnia exchange rate is relatively stable. If there weren’t this mass of foreign exchange earnings of $12-13 billion annually, what would the hryvnia exchange rate be?” the economist rhetorically summarized.
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