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There is no money, to return nothing: from Ukraine during the war derived currency revenue as it is to fix it

"In the context of our raw material specialization, the whole dispute over the terms of return of foreign exchange earnings, 90 or 180 days is, in fact, an unspoken contract of FPG and power, what amount of foreign exchange earnings can be left abroad forever. " Many people do not understand in Ukraine what is the essence of setting different terms of return of foreign exchange earnings during exports: 90 or 180 days.

Some of the exporters work because of our fasted trade houses, registered in offshore jurisdictions. For example, ore in the world market costs $ 200, from the Ukrainian GOK-A to its offshore it is sold for 60, and already from offshore to the market-for 200.

The mechanism of control over prices through the mechanism of transfer pricing we almost does not work, so the GOK will pay Taxes on a price of $ 60, and $ 140, the owner of the GOK-A accumulates on an offshore and buy a yacht without paying taxes. But even 60 dollars per tonne is in no hurry to return to Ukraine. For example, under contract A to the country after 180 days it has to return $ 100 million. And the contract would be concluded in 100 days for 150 million.

After 100 days, all the money was entered on the offshore and under contract A, and under the contract B. But the revenue under the contract and the owner of the GZK-A has already sent to personal accounts for fictitious transactions. There is no money, to return nothing. But the offshore on which the contracts a and b are the same. Therefore, the offshore returns to Ukraine 100 million under contract and by contract B. B.

The same situation with grain and with any other raw material, where the calculations are mainly on banking letter of credit, ie payment against delivery. There is no point in setting the following long calculations for raw material exports: 90 or 180 days. These parameters have been set a long time ago for a high value added product. Like, Ukraine will sell tractors, turbines and planes and requires a longer export payments.

In the context of our raw material specialization, the whole dispute over the terms of return of foreign exchange earnings, 90 or 180 days is, in fact, the unspoken contract of FPG and power, which volume of foreign exchange earnings can be left abroad forever: for a quarter (90 days) or half a year (180 days). It is like in Europe against the background of zero rates in previous years, the credit limit was considered as a "gift of the bank".

And as for economic freedom: right or not, limit the terms of return of foreign exchange earnings. In my opinion, such a limitation, especially during the war, should be about raw materials: ore, grain. That is, about natural resources. This revenue has to return to the country for 30 days. Currency proceeds during export of high value added products should be in full disposal of its owner in Ukraine or abroad.