Razumkov signs law on Bureau of Economic Security

The document stipulates that the Bureau of Economic Security will be established as a central executive government body to counteract offenses encroaching on the functioning of the state economy.

The law defines the tasks and powers of this body, control over its activities, legal status, duties and responsibilities of employees, as well as the basis of cooperation of the Bureau with other institutions, enterprises, and organizations.

According to the explanatory note, the adoption of the law will increase the effectiveness of law enforcement agencies in the formation and use of financial resources of the state and its economic security. As a result, it should reduce the shadow business in Ukraine and increase tax revenues, optimize the structure of law enforcement agencies, logistics, and reduce the total number of employees who fight financial crime.

On February 9, Razumkov signed bill No. 4090, which sets the terms of liquidation of the tax police in connection with the establishment of the Bureau of Economic Security of Ukraine.

The document provides for the liquidation of the tax police from the date of the decision of the Cabinet of Ministers on the start of activity of the Bureau of Economic Security of Ukraine, but not later than six months from the date of entry into force of the law "On the Bureau of Economic Security of Ukraine."

Both laws have been submitted to the president for signature.

On January 28, the Verkhovna Rada passed the law "On the Bureau of Economic Security of Ukraine." Among other things, the document provides for the transfer of the investigation of economic crimes from the Security Service of Ukraine, the State Fiscal Service and the State Bureau of Investigation to the newly created body.

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