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Europe > Ukraine

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Cover IMF Staff Country Reports
Ecuador: Fourth and Fifth Reviews under the Extended Arrangement under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, Rephasing of Access, and Financing Assurances Review-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Ecuador
International Monetary Fund. Western Hemisphere Dept.
This paper presents Ecuador’s Fourth and Fifth Reviews under the Extended Arrangement under the Extended Fund Facility (EFF), Request for a Waiver of Nonobservance of Performance Criterion, Rephasing of Access, and Financing Assurances Review. Ecuador’s EFF-supported economic program aims to stabilize the economy, ensure fiscal and debt sustainability, expand the coverage of social assistance programs to protect the vulnerable, promote a transparent management of public resources, and lay foundations for sustainable and inclusive growth. The economy rebounded more strongly than expected in 2021 at 4.2 percent, bolstered by a well-executed vaccination campaign that allowed for a steady reopening of the economy. The recovery will continue in 2022, but at a more moderate pace of 2.9 percent. Inflationary pressures, mostly due to higher commodity prices, are expected to rise. The Executive Board approved the authorities’ request for a waiver of nonobservance of the end-December 2021 performance criterion on the overall balance of the budgetary central government and the oil derivatives financing account based on the corrective actions the authorities have already taken and have committed to take. Continued improvement in public financial management and advances in transparency and anti-corruption would strengthen efficiency and accountability of the public sector.
Keywords:
healthcare audit; EFF arrangement; IDB bond guarantee; oil derivatives financing account; IMF's transparency policy; government support; Oil prices; Public sector; Auditing; Global
Cover IMF Staff Country Reports
Ukraine: Technical Assistance Report-Reforming the State Fiscal Services
International Monetary Fund. Fiscal Affairs Dept.
The SFS was established in 2014 as the successor to the Ministry of Revenue and Duties (MRD), and with three components—tax, customs and tax police. Following the turbulence arising from mid-year leadership changes in the SFS, reform momentum was invigorated and a number of important initiatives are being pursued. Since May 2015, a comprehensive reform plan has been approved; execution of the plan has commenced; many regional and local leaders were replaced; a change director was appointed; integrity programs were expanded; and a set of indicators that provide for a substantial lift in organization performance are being pursued. There are preparations for ambitious changes to organization structure which will merge the field networks across tax and customs.
Keywords:
ISCR; CR; audit program; value-added tax; reform plan; SFS audit coverage; The SFS Audit management team
Cover IMF Staff Country Reports
Ukraine: Technical Assistance Report-Tax Administration Reforms and Governance Options
International Monetary Fund. Fiscal Affairs Dept.
Immediate revenue measures need to be balanced with some attention to more fairness in tax collection. The mission recommends to cease revenue deferral arising from trivial tax disputes by requiring at least a partial payment of disputed tax before the appeal goes forward; collect tax arrears by promoting installment arrangements that fit the crisis conditions; strengthen routine monitoring of filing and payment obligations to control tax discipline; and make mandatory that largest taxpayers deal with their tax affairs at the large taxpayer inspectorate (LTI) offices instead of local offices. Ineffective internal dispute resolution processes should be replaced with an independent and fairer administrative review.
Keywords:
ISCR; CR; tax administration; audit program; bank account; administration practice
Cover IMF Staff Country Reports
Ukraine: Technical Assistance Report-Tax Administration Reforms and Governance Options
International Monetary Fund. Fiscal Affairs Dept.
This paper focuses on Ukraine’s tax administration reforms and governance options. The main purpose of this paper is to develop enhancing measures to support Ministry of Revenue and Duties in meeting government’s commitments under IMF program. This paper recommends to cease revenue deferral arising from trivial tax disputes by requiring at least a partial payment of disputed tax before the appeal goes forward; collect tax arrears by promoting installment arrangements that fit the crisis conditions; strengthen routine monitoring of filing and payment obligations to control tax discipline; and make mandatory that largest taxpayers deal with their tax affairs at the large taxpayer inspectorate offices instead of local offices.
Keywords:
ISCR; CR; tax administration; audit program; bank account; administration practice; value-added tax; revenue enhancement; risk assessment; tax debt; deputy head; I. tax administration; tax administration organization; tax compromise program; tax police; tax administration practice; central office; Tax administration core functions; Value-added tax; Auditing; Dispute resolution; Africa
Cover IMF Staff Country Reports
Ukraine: Technical Assistance Report-Reforming the State Fiscal Services
International Monetary Fund. Fiscal Affairs Dept.
This paper discusses State Fiscal Service (SFS) Reform of Ukraine and a plan of action. This mission is a follow-up to the Fiscal Affairs Department (FAD) mission of July 2014 and has focused on the recently adopted reform plan for revenue administration in the SFS. In 2015, the revenue performance has met expectations for the major taxes. There are concerns that amounts for corporate income tax (CIT) advance payments and value-added tax refunds will erode future performance. Advance payments of CIT have not been credited against tax assessments. The 2014 FAD mission made a number of recommendations aimed at short-term revenue improvement before long-term institutional changes were adopted.
Keywords:
ISCR; CR; audit program; value-added tax; reform plan; SFS audit coverage; The SFS Audit management team; tax Police; customs aspect; Police reform; office network; audit staff; single tax; tax audit; Auditing; Dispute resolution; Tax administration core functions; Tax audits; Corporate income tax
Cover Policy Papers
Safeguards Assessments - Review of Experience
International Monetary Fund
This paper reviews experience with the safeguards assessment policy since the last review in 2010. The policy is subject to periodic reviews by the Executive Board. The policy’s main objective is to mitigate risks of misuse of Fund resources and misreporting of monetary data under Fund arrangements. Consistent with past reviews, an external panel of experts provided an independent perspective on the implementation of the policy.
Keywords:
PP; central bank; country; fund; financing; governance; central bank assessment; budget financing; audit committee members; fund Arrangements; central banks of member country; central bank's governance; investigation result; financing arrangement; personnel position; internal auditors; ECB guideline; audit quality issue; External audit; Auditing; Internal audit; Budget planning and preparation; Fiscal risks; Middle East; North Africa; East Africa; Global
Cover Policy Papers
Safeguards Assessments - 2011 Update
International Monetary Fund
Under the Fund’s safeguards policy introduced in 2000, assessments of central banks are carried out for countries seeking financing from the IMF. They are part of the Fund’s approach to prudent lending and complement the Fund’s other safeguards such as program design, conditionality, and access limits, to name a few. The assessments aim to provide reasonable assurance that governance and controls can protect Fund resources from misuse and guard against misreporting of monetary data used for program monitoring purposes.
Keywords:
PP; central bank; assessment; governance; country; procedure; adherence to governance principle; governance chapeau; assessment activity; central bank's governance; lending process; central bank audit; governance structure; governance orientation; assessments of central banks; safeguards Policy; profile of central bank audit; External audit; Auditing; Monetary statistics; Central bank governance; Fiscal risks; West Africa; Western Hemisphere; Pacific Islands; Western Europe; Europe
Cover Policy Papers
Safeguards Assessments—2009 Update
International Monetary Fund
This paper provides Executive Directors with an update of safeguards assessment activities from July 1, 2008 through June 30, 2009. In common with previous updates, it covers the various types of safeguards activities undertaken during the year, highlighting the increased activity associated with the “twin crises” of food and fuel price shocks and the global financial crisis during 2008/09. It also briefly discusses developments in the latter part of that year, including the separate safeguards procedures introduced for members accessing the Flexible Credit Line (FCL).
Keywords:
PP; central bank; audit; staff; audit committee; auditor; Fund; financial assets; accounting records; internal auditors; External audit; Auditing; Financial statements; Internal audit; Central bank auditing; Africa; Global; Middle East and Central Asia; Western Hemisphere; Asia and Pacific
Cover Tax Reform in the Baltics, Russia, and Other Countries of the Former Soviet Union
Tax Reform in the Baltics, Russia, and Other Countries of the Former Soviet Union
Mr. Liam P. Ebrill

Abstract

This paper provides an overview of the recent revenue performance in the Baltics, Russia, and other countries of the former Soviet Union, and a survey of these countries efforts to modify tax policy in line with the needs of increasingly market-oriented economies and to increase the effectiveness of tax administration. It focuses principally on the 12 countries of the CIS, but refers also to the Baltic countries, and addresses the period from 1995 to mid-1998, prior to the August 1998 financial crisis in Russia.

Keywords:
OP; country; revenue action plans; government; cash revenue; GDP ratio; CIS country; revenue performance; Tax administration core functions; Tax collection; Tax law; Payroll tax; Baltics