Ukraine wants to develop national revenue strategy for 2024-2030, Finance Ministry to coordinate

MOSCOW. April 3 (Interfax) - Ukraine's Cabinet of Ministers has instructed the Finance Ministry to start preparing the National Revenue Strategy for 2024-2030, according to published materials from the International Monetary Fund (IMF).

The decision defines the stages and deadlines for the preparation of the Strategy, as well as the main principles and objectives of the tax policy in current conditions and in conditions of post-crisis recovery, Ukrainian media said, quoting the text of the document.

The IMF clarified that the development of the strategy was one of three preconditions for approval by the IMF Board of Directors of the Extended Financing Program (EFF) for Ukraine totaling $15.6 billion.

"It is important to note that in the decision the Ministry of Finance has been appointed as the coordinator of the development of National Revenue Strategy," the fund's materials say.

As reported, the four-year EFF program envisages that in its second phase, tentatively starting in 2025, fiscal policy will focus on critical structural reforms to secure medium-term revenues through the implementation of a national revenue strategy, along with improved public financial management and the implementation of governance reforms with public investment to support recovery.

Rostislav Shurma, Deputy Head of the Office of the President, explained earlier that the Strategy will be determined primarily by the concept of the tax reform model. "This is a concept that we proposed and we will discuss it in some modified form with both the government and the IMF," he said on March 23 on the sidelines of the Ukrainian Tax Reform and Anti-Corruption Summit.