Ukraine Sets Laws To Prevent Crash?

The Russians Are Coming

Law enacted in Ukraine aiming to prevent financial collapse

The law was upheld by the Ukrainian parliament alongside anti-crisis amendments to the state budget for 2014 on March 27, and is part of a package of laws which the International Monetary Fund and other international organizations are ready to support.

EU Economist

The law sets VAT and profit taxes at 20% and 18%, respectively, reversing plans to lower them; introduces a progressive tax scale of 15%, 20% and 25% on passive annual incomes exceeding UAH 20,000 starting on July 1, raises excises on and payments for the use of natural resources, and restores the 0.5% tax on currency exchange operations.It also reduces some payouts, including the benefit due to mothers after childbirth, and also introduces personnel cuts at law enforcement services and prosecutor's offices.

Source:

Here' s absolute proof  that economists are madmen - they are so disconnected from reality that they think they can outlaw or prevent economic collapses. What next? Perhaps they can renegotiate the  laws of thermodynamics .I would not put it past these guys to come up with such a policy.

Anyway we come across a lot of articles, reports, and writings around the world but this has to be the most ridiculous idea we have seen in along time. No wonder this country is in trouble.- they can't even figure out how to do a real economic/business plan with the resources they have.

They are sure to on our "watchlist " for a long .long. time.



Investors' Insights
April 4, 2014