We are satisfied with the development of the tax system of Ukraine, chairman of the National Bank of Ukraine Serhiy Arbuzov told during a conference organized by the Taxpayers Association of Ukraine, ForUm correspondent reports.

According to the banker, currently there is situation in Ukraine when all the agencies can work together to find solutions and implement them. "We have a lot of common tasks, which implementation directly influences the achievement of quantitative targets laid down by the presidential reforms. The main thing is that there is a general understanding of that tax increase is possible only after we have created the proper conditions for business operation," the financier said.

He continued that the most important results of the joint work is, for example, the taxation of most banking operations in particular on credit, deposit and foreign exchange transactions. "It is also a common approach to the definition of income and expenses on credit and deposit operations, identifying the base for the formation of insurance reserves based on the amount of debt on all active operations," the NBU chairman said.

According to him, the other qualitative results are that the share of problem assets has fallen from 14.3% to 12.8%. "This is a great achievement. In addition, the banking system has reduced the share of bad loans by 20 billion USD," Arbuzov concluded.



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