According to EBA, the final version of the bill includes several proposals previously relayed to the lawmakers by Ukrainian entrepreneurs. These include transparency measures like an independent committee appointing the head of the ESB on a competitive basis and re-certifying all current ESB employees. Both processes will involve international experts and consultants to avoid domestic regulatory capture.
Additionally, the ESB will have free access to the totality of government data on the Ukrainian economy, allowing them to accurately assess the operations of a given private venture.
“The business community has repeatedly emphasized that the creation and formation of important procedures and the Bureau’s composition cannot be done unilaterally or solely at the discretion of a new director,” the EBA said.
“Safeguards are needed against possible erroneous or biased decisions. It is crucial to restrict individuals with a dubious reputation from holding positions within the ESB to ensure the body serves its true analytical function, aimed at combating the shadow economy and illegal business practices, rather than exerting fiscal pressure on transparent businesses.”
“Undoubtedly, the document is not perfect, but if the ideas laid out on paper are implemented in practice, we hope the agency will function fully and effectively.”
Read also: Lack of efficient staff challenges timely ESB reform, says agency chief
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Read the original article on The New Voice of Ukraine
Section: Business
Author: Eric Malinowski
