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Expert: Dollar salaries to be unprofitable

Posted by the Editor on January 31, 2013

News / 31 January 2013 | 14:35

Expert: Dollar salaries to be unprofitable

Expert: Dollar salaries to be unprofitable

If a draft law on currency transaction tax is adopted, it will not be profitable to receive salaries in foreign currency for citizens of Ukraine, financial expert Oleksandr Okhrymenko told a press conference “How will currency tax affect dollar salaries of Ukrainians?” ForUm correspondent reports.
According to him, in this case, the Ukrainians will have to either renegotiate labor contracts and transfer salaries in hryvnia or redistribute currency tax with owner of the company.
He recalled that a similar process of dedollarization occurred in Russia few years ago. “As of today, Ukraine owns 83 billion dollars in cash, while Russia – only about 30 billion. Although, it was vice versa in 2001. But Russia began to use administrative methods for survival of dollar, for example, prices in nominal dollars were prohibited. So if we talk about the prospects, Ukraine can also reduce the amount of cash currency in 2013,” Okhrymenko concluded.


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