More transparency in the financial budgeting process and an effective control of public spending
Ministry of Finance and Parliament improve themanagement of public finances. The Court of Auditors controls public finances according to international standards. Taxation is based on the economic performance of taxpayers, and strictly follows the laws of Ukraine. Companies abide by the taxation laws, and tax evasion is made harder.
Ukraine has signed an Association Agreement with the European Union and is pushing for economic integration into the EU internal market. The agreement foresees the adoption of EU legal and economic standards. To fulfil its obligations under the agreement, the Ministry of Finance, Parliament and the Court of Auditors will have to modernise their procedures and make them more transparent.
GIZ supports the gradual adaptation of the financial budgeting process to EU standards. The aim is to have a budget that reflects the political priorities as defined by the government. This will help improve public services, for example in the areas of education and social services. The Court of Auditors is strengthened so that it can act as an independent institution that is able to monitor all public income and expenditure according to international standards. Furthermore, it should be able to provide members of the parliament’s Public Accounts Committee with the information they need to exercise their control function. Tax laws and the tax administration are being modernised.
At the end of 2014 the Parliament of Ukraine agreed on changes to the budget and taxation laws. This has been one of the most important reforms since the Ukrainian revolution. The decentralisation of the tax system means that municipal budgets of this year are 35% higher than in 2014. The additional funds can be used for public services and investments in infrastructure projects.
The international conference “Role and Challenges of the Accounting Chamber in Ukraine” took place in Kyiv on June, 14, and spurred the discussion of international experts, Ukrainian…more
Live stream https://youtu.be/UMjuo1dgSi4 As economic and social development have progressed in Ukraine, financial control and political scrutiny of the state budget have become essential components of…more
GIZ experts Mrs. Igrid Dinkelmann-Wendle, Mr. Friedrich Seewald and Mr. Dennis Nehring from the German Federal Finance Academy, the Federal Ministry of Finance and the German…more