KIEV, Sept. 20 – The imposition of a tax on deposit incomes could provoke an outflow of deposits from the banking system, the Association of Ukrainian Banks warned.
"The state's losses from the introduction of individuals' deposit income taxation could significantly exceed actual revenues to the budget. Deposit income taxation from the start of the next year could cause a substantial outflow of depositors' funds," reads a posting on the AUB's Web site.
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