The tax authority is set to gain comprehensive access to Ukrainians’ accounts and safety deposit boxes.
Ukraine intends to establish a consolidated register of bank accounts and safe deposit boxes, accessible to the State Tax Service.
This is outlined in a fresh piece of legislation submitted to the Verkhovna Rada as a component of Ukraine's entry into the Single Euro Payments Area (SEPA), reports VIY.
As stated by Finance Minister Serhiy Marchenko, the establishment of such a register constitutes a necessity for aligning with the European financial sphere. Moving forward, all banks, financial organizations, and electronic money providers will be mandated to inform the tax authorities about the creation, termination, and presence of accounts or safe deposit boxes held by private citizens.
The registry will solely capture data regarding the presence of an account or safe, excluding details about fund balances or financial transactions.
Nevertheless, the central aggregation of such data has sparked considerable disapproval among specialists and average Ukrainians alike.
