Ukrainian tax authorities plan to gain access to banking secrecy. Verkhovna Rada denies it

Ukrainian tax authorities plan to gain access to Banking Secrecy as part of reform following passage of relevant bill.

This was reported by Hromadske.

At the same time, according to the head of the Verkhovna Rada’s Finance Committee, Danylo Hetmantsev, no such bill is currently under consideration by the committee, and “there is no chance of this decision being passed before the end of this parliamentary term.”

Currently, tax authorities can only access banking information through a court order.

Meanwhile, Hromadske reports that in early March, the National Bank of Ukraine (NBU) recommended that banks include a clause in their agreements with clients that would grant consent to share banking secrecy with other banks — including information about the movement of funds in accounts.

It is worth recalling that in January, the NBU spoke against the abolition of banking secrecy. The National Bank stated that in EU countries, the protection of private property, including personal financial data, is an integral part of the rule of law.

Earlier, Finance Minister Serhiy Marchenko said that banking secrecy in Ukraine should eventually be abolished, adding that it is only a matter of time.