Europeans sound the alarm: new taxes can destroy the mining industry of Ukraine
The European Business Association urged not to adopt changes to the Tax Code that would allow extrajudicial termination of special permits for subsoil use due to debts of UAH 3,000 or more, and would double the land tax for mining enterprises.
The EBA stated that these innovations are a path to corruption and violate Ukraine's international obligations, including the newly concluded agreement with the United States on mineral resources.
Also, because of these initiatives, the cost price of Ukrainian products will increase, production volumes will fall, exports will decrease and investment attractiveness will disappear.
The mining industry is 60% of Ukraine's export potential. Therefore, in the conditions of war, it is important not to create additional fiscal pressure, but to stimulate development, say the Europeans.
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