State Tax Service to ensure effective cooperation with Bureau of Economic Security - Liubchenko

“We constantly hear from business about insecurity from the willfulness of various state law enforcement agencies. At the same time, there are well-established shadow economic unions in the country, which have in fact turned into real criminal groups in the economic sphere,” Liubchenko stressed, Ukrinform reports with reference to the State Tax Service’s website.

According to him, the establishment of the Bureau of Economic Security in the form and with the same tasks and powers as provided by the law will protect business from wrongful interference in its activities, while the law enforcement system will focus on efficient combating organized crime in the economic sphere and prosecuting those who lead such activities.

“For its part, the State Tax Service of Ukraine intends to ensure efficient cooperation with the newly created law enforcement analytical body to reduce the shadow economy and eliminate unfair competition that hinders the work of honest taxpayers," said Liubchenko.

As reported by Ukrinform, President of Ukraine Volodymyr Zelensky signed the Law “On the Bureau of Economic Security of Ukraine,” No.1150-IX, which was adopted by the Verkhovna Rada on January 28, 2021.

"The document creates institutional conditions for protecting economic processes from pressure from law enforcement agencies, which is supported by Ukraine's international partners. The main function of the Bureau of Economic Security will be analytical work, not enforcement powers. The Bureau will analyze the beneficiaries of financial transactions and check whether there is a violation of the law in the circulation of funds of certain business or government agencies,” reads the report.

The Bureau will be given the appropriate powers of the Security Service and the Tax Police. The activities of the Bureau will be directed and coordinated by the Cabinet of Ministers.

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