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News digest

The share of the shadow economy may increase

“Buy Ukrainian!”: Patriotic, but not always appropriate

According to the government’s plan, fiscal will become intellectual

F25 – for matter “for all”

Everything that happened last week in Ukraine and the world and that is relevant to the furniture maker, read in our digest:

1. The plans of the Cabinet of Ministers to increase the minimum wage to 5 thousand hryvnias this year and to 6-6.5 in the future will increase the tax burden on wages, and therefore the share of the shadow economy in the country may increase. This opinion was expressed by representatives of the European Business Association.

They explained that in the case of an increase in the Ministry of Wages, the maximum size of the single social contribution (SSC) accrual base will also increase. “There are well-founded fears that increasing the tax burden on wages, even during the economic crisis, will stimulate the growth of the shadow wage sector. After all, the increase in the shadow sector will create non-competitive conditions for honest taxpayers, “the association said.

2. The draft law №3739 on localization in public procurement (it provides advantages in public procurement of products made in Ukraine) will harm exporters, said Tymofiy Milovanov, former Minister of Economic Development, Trade and Agriculture. The localization law will hit exporters because it will reduce the demand for dollars. And accordingly will make the hryvnia more expensive and the dollar cheaper. The law will also increase the costs of state-owned enterprises, reducing their profits, and thus hit taxpayers.

3. The Government will liquidate the State Fiscal Service by the end of 2020. This was stated by Prime Minister Denis Shmygal. This is, in fact, a condition for the second tranche from the IMF.

“Our ideology: it should be an intellectual body (instead of the State Fiscal Service). Not power, but intellectual. That is, a body that will have access to databases, resources, which will intellectually search for financial violations, expose them and transfer them to the penal body, “Shmygal said.

4. The quality of furniture begins with the accuracy of cutting operations. Therefore, the furniture company can not do without a skilled cutter. Such as the new Altendorf F25. According to the legendary quality of Altendorf equipment, the price of the new product is quite democratic, and therefore affordable for a wide range of users.

The new F25 performs all the standard functions of a format-cutting machine, occupying a small area in the shop. With the legendary quality of Altendorf equipment, the price of the novelty is quite democratic, and therefore available to a wide range of users. The machine will be ideal for both novice furniture makers and professional woodworkers, both for their own carpentry workshop and for daily use at the company as a second production machine.

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