NBU writes the law “On currency”

The national Bank of Ukraine (NBU) is finalizing the draft law “On currency” and plans to soon make it public for discussion with international partners, businesses, banks and the expert community. About it reports a press-service of the NBU.

“We are ready to liberalize in exchange for transparency of business and payment of taxes in Ukraine. For this we want to change the motivation of individuals so that the Ukrainians were beneficial to law-abiding taxpayers,” – said Deputy head of the NBU Oleg Churiy.

Simultaneous removal of restrictions and exchange control, according to Cure, can lead to increased pressure on the currency market, so need steps on base erosion and profit shifting.

Recall that in late may, the NBU significantly reduced the number of restrictions in the foreign exchange market. Thus, the maximum period of settlements for operations of export/import of goods, which was temporarily restricted to 120 days is now 180 days. In addition, foreign investors may return invested in Ukraine means having the opportunity to buy and transfer foreign currency for these purposes.

Also business may prematurely repay the external loans if as security of payment for these transactions was used obligations of international financial organizations.