The Antimonopoly Committee of Ukraine believes that violation of competition law in Ukraine is effective, first deputy chairman of the Antimonopoly Committee of Ukraine Rafael Kuzmin told a briefing, ForUm correspondent reports.
"For example, U.S. traditionally has harsh laws regarding offenses. There, apart from fines, there are criminal penalties. We have very large penalties for business entities. We do not support criminalization of these relations," he said.
In turn, head of the AMC concentrations and concerted actions control department Tetyana Poltavets reported that in the United States, businesses are imposed a fine of 16 thousand dollars for each day upon there was committed offense during mergence.
"In Ukraine, such violations are punished by a fine of up to 5% of the income of a business entity," she said.
Kuzmin also added that in Ukraine annually about 10% of business entities commit crimes during mergence. "But we need to distinguish between formal infringement - wrongly filed documents, inaccurate information. There are many such violations. In the past year, there were no such mergers, which led to monopolization of the market," the official summed up.
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