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"The national budget raised UAH73.8bn from the placement of government domestic loan bonds (97% of the target), including UAH41.3bn from the placement of foreign currency-pegged bonds ($1.2bn and €0.3bn). Some UAH34.2bn was raised from external sources (66% of the target), in particular, UAH33.9 via the placement of 10-year €1.25bn eurobonds at 4.375% per annum," the ministry said.
Payments to settle the state debt over the period amounted to some UAH71.3bn​ (81.8% of the target) and payments to service the debt reached UAH41.1bn (94.2% of the plan), the ministry said.
"According to the results of January-April 2020, social expenditures, defence spending, debt servicing and subsidies to local budgets were fully financed in accordance with the list of appropriations. Thus, according to the State Treasury Service, the outlays of the general fund of the national budget in the first four months of 2020 amounted to UAH308.9bn, or 87.5% of the target for the reporting period," the Finance Ministry said in the statement.
The receipts of the general fund of the national budget were UAH90.9bn in April 2020​, of which almost UAH43bn came from the National Bank of Ukraine (NBU).
National budget receipts were determined in 2020 in the amount of UAH975.833bn (including UAH855.4bn for the general fund), outlays at UAH1.266 trillion (UAH1.135 trillion for the general fund).
Zelenskiy signs tax amendments after five-month delay. ​Ukrainian President Zelenskiy signed a law on May 21 (Bill #1210) amending the tax code to improve tax administration by removing technical and logical inconsistencies, making simplifications and introducing international standards of tax oversight, the president’s press service reported that day.
The law also implements the OECD’s Action Plan on Base Erosion and Profit Shifting (BEPS). The law provides the necessary conditions for reforming the State Tax Service, as well as enhanced online services for taxpayers, enabling them to submit filings and receive documents online.
Zelenskiy delayed signing for five months the Bill #1210 owing to dissatisfaction expressed by certain big business representatives, Parliamentary Taxation Committee Chair Danylo Hetmantsev said in an interview published on May 25 on the epravda.com.ua news site. Nonetheless, Zelenskiy signed the legislation since these parties “weren’t radically opposed,” he said.
Zelenskiy didn’t want to sign the tax code amendments but approved them because they are an IMF requirement for the coming loan program, said on May 26 Mikheil Saakashvili, the head of the National Council of Reforms of the President’s Office. In his view, the amendments signed by Zelenskiy “need to be urgently changed” as they significantly increase the authority of tax officials and make tax administration more complicated. “The tax service gained the right to tighten the screws and the presumption of guilt was shifted onto taxpayers because they will have to prove something,” he told the Ukrayina 24 television network.
39​ UKRAINE Country Report​ June 2020 ​ ​www.intellinews.com