KIEV, Dec. 12 – Prime Minister Arseniy Yatseniuk has noted the difficulty of negotiations on the gradual decrease of the rate of the single social security tax payment to 15% with the International Monetary Fund.
"Now we're holding a long discussion with the IMF on the issue [the reduction of the single social security payment], as it is not simple. Currently we have a 41% social security payment, and we propose cutting it gradually to 15%. My idea was to set it at 15% at once, but our international creditors have pointed out the large risk from setting the rate at 15% while wages do not emerge from the grey market, and that we could lose a large income base," he said, presenting the government action plan in parliament on Thursday.
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