The State Tax Service and the National Bank of Ukraine are changing the currency control rules: what awaits businesses.

According to inkorr.com: The State Tax Service, together with the National Bank of Ukraine, has decided to improve the process of submitting requests to banks when payment terms for foreign economic operations are violated.

Update of request structure

As part of this cooperation, the structure of requests has been modernized to meet the requirements for maintaining banking secrecy. This will improve interaction between regulatory authorities and financial institutions, ensuring a high level of legal certainty.

'Our goal is to receive complete, accurate, and timely information from banks in accordance with requests. This will enhance analytical work, increase transparency in financial operations, and strengthen trust in the Ukrainian financial system,' representatives of the State Tax Service explained.

Improving the effectiveness of currency control

The joint efforts of the State Tax Service and the National Bank of Ukraine are aimed at increasing the effectiveness of currency control, ensuring transparency in financial operations, and preventing the illegal outflow of funds from Ukraine.

Thus, the new request structure will strengthen communication, legal certainty, and transparency in financial operations. The implemented changes aim to create a more effective and secure financial system in Ukraine, which, in turn, will contribute to the development of the economy and the country's attractiveness for investment.