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Tax innovations: VAT vs sales tax

06 December, 2016 0 2218

Tax innovations: VAT vs sales tax

Tax innovations: VAT vs sales tax

Author:
06 Dec 2016 15:53

On December 5, the Ukrainian Institute for the Future hosted a round table “Tax Innovation: VAT vs sales tax”. The event opened a series of discussions on tax reform, initiated by the Ukrainian Institute for the Future (UIF).

In the system of taxation the Ukrainian leaders use the European models. However, according to a number of Ukrainian experts, this is not the best role model in the domestic realities. In particular, VAT is the biggest source of corruption among all taxes and it can be replaced with the sales tax, which has been successfully functioning in the US economy.

During the roundtable, the representatives of the International Investment Partners presented a project of implementation of sales tax in Ukraine. According to the authors of the project, the sales tax can completely replace the VAT in the budget and can significantly change the structure of the economy of Ukraine.

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