Owner of NOVA Company Criticizes New Tax Initiatives of the Verkhovna Rada

Alexander Kovalenko, co-owner of the NOVA group of companies, known for its delivery network 'Nova Poshta,' has expressed his concerns regarding recent decisions made by the Verkhovna Rada of Ukraine, which he believes will severely harm business and the economy of the country. In his statement, he emphasized three key legislative initiatives that he believes could significantly complicate doing business in Ukraine.

The first of these blows, according to Kovalenko, is the adoption of a law that extends the military tax of 5% for three years after the war ends. This measure is justified by the need to finance the country's recovery. However, in the businessman’s opinion, economic recovery should not come at the expense of increased taxes, but rather through their reduction. 'It is not officials who develop the economy, but entrepreneurs. Thus, the deputies have effectively postponed the economic recovery for another three years,' Kovalenko stated.

The second blow pointed out by Kovalenko is related to the adoption of a law known as the 'Tax on OLX.' This law will affect millions of Ukrainians who are trying to make ends meet by trading among themselves, working as couriers or taxi drivers. 'These are people who are not asking for anything from the state; they are just trying to survive in difficult conditions. The introduction of this tax will significantly hit their wallets, and consequently, the entire economy,' he emphasized. Kovalenko also noted that this will lead to an increase in inspections, fines, and legal disputes, as well as a rise in corruption and shadow schemes.

The third blow that Kovalenko speaks about concerns a bill that proposes taxing international parcels. 'This law could negatively impact millions of Ukrainian consumers, reduce their purchasing power, and worsen their welfare. It could also lead to increased corruption and shadowing of the economy, as well as a collapse of customs procedures,' he remarked.

Kovalenko expressed his surprise at the logic behind these actions, as the expected additional budget revenues from the new measures amount to only 1%. 'These funds could be obtained through other, less toxic means,' he concluded.

Kovalenko's statement has sparked widespread resonance among businessmen and economists, who are also concerned about the consequences of the new tax initiatives. Many believe that such steps could lead to a decrease in Ukraine's investment attractiveness and further worsen the economic situation in the country.

The text has been published with the author's permission.