IMF assessed the introduction of a 50% tax on bank profits.

The Deputy Head of the IMF Mission in Ukraine, Trevor Lessard, expressed his opinion on the introduction of a 50% tax on bank profits. He noted that this decision is not effective and contradicts the nature of the windfall tax. Such a tax burden can undermine trust in politics. Lessard emphasized that the windfall tax is usually introduced only for one year, as repeated tax increases may cause resistance among the population and undermine trust in politics. At the same Time, he noted that banks might change their profit policy in anticipation of the next tax increase. This is a rational step on their part, as there is a likelihood that such an increase will happen again. Lessard called for understanding Ukraine's needs in domestic revenues and considering the better choice of raising taxes in the long term, which will lead to dividends in the medium term, rather than a one-off increase that results in a revenue gap.