Monday, November 14, 2005

Is this a lifting of the shadows?

There was a fine article in the Kyiv Post last week. “New policies give tax boost”, by Roman Olearchyk. It covered the variance between the 2004 and 2005 profits made by certain large corporations. In many cases, the 2005 profits and sales were notably higherthan 2004, even with the slowdown in the Ukrainian economy and the slowdown in the international metals market. The reason given for this increase in sales is the need to report more realistic earnings in order to attract international respect and interest. This might be a move by Ukrainian industrialists to clear up their holdings in order to sell some of them off. Greater pressure by the tax authorities also paid a part.

One question that comes to mind, it would be great to see these calculations split out by backers of former regime and supporters of the current one. This article is available online to Kyiv Post subscribers. Once again, the Post is building a subscription wall between itself and it readers, but only online.

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