Tax authorities plan to access accounts of Ukrainians and businesses — what is the reason?
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The State Tax Service (STS) intends to tighten control over Ukrainian citizens and businesses, aiming to gain access to data on the bank accounts of individuals and legal entities. This means that the STS plans to obtain information considered banking secrecy about bank clients who are not subject to tax audits.
This was reported by MP and member of the Finance, Tax, and Customs Policy Committee, Nina Yuzhanina, on Telegram.
Why the Tax Service wants access to accounts
One of the points in the National Revenue Strategy states that the Tax Service will gain access to data on the bank accounts of Ukrainians. This means that the State Tax Service (STS) intends to obtain information, considered as banking secrecy, regarding bank clients who are not subject to audits by tax authorities.
Yuzhanina emphasized the importance of taking effective measures to restore trust in the work of the tax authorities, especially regarding the handling of taxpayers' personal data. The public needs to be provided with guarantees that the expanded powers will not be used to pressure citizens. Only under these conditions can there be a discussion about granting tax authorities broader access to information about financial transactions on taxpayers' accounts.
The MP noted that the tax authorities have not yet taken any steps to restore the trust of citizens. At the same time, proposals have already been prepared to amend legislation that would allow banks to disclose information considered as banking secrecy.
"The STS proposes that such information should include details regarding transactions on the accounts of specific legal entities, individual entrepreneurs (FOPs), or ordinary citizens over a certain period, specifying counterparties and payment purposes. At the same time, banks will be required to provide this information for the purpose of conducting documentary tax audits of banks and their separate divisions," Yuzhanina explained.
These intentions of the State Tax Service have already raised concerns within the National Bank, which emphasizes that current legislation provides tax authorities with all the necessary powers to obtain the required data.
She added that the expansion of tax authorities' powers to disclose banking secrecy without sufficient justification, as proposed by the STS, could negatively impact the implementation of European Union legislation in Ukraine.
What else you need to know
It should be noted that on October 22, economist Serhii Fursa stated that the tax authorities will not be receiving information about Ukrainians for now, specifically information that falls under banking secrecy.
We also reported that the State Tax Service of Ukraine (STS) will be closely monitoring international passenger transport. The agency has established a relevant interaction mechanism with border guards, which will allow for the collection of more information regarding carriers and passengers at the border.
