The Chairperson of The Verkhovna Rada signed the Law on the Bureau of Economic Security of Ukraine
12 February 2021, 16:30
The document stipulates that the Bureau of Economic Security will be established as a central body of executive power, which is responsible for counteracting offenses that encroach on the functioning of the state economy.
The law defines the tasks and powers of this body, control over its activities, legal status, duties and responsibilities of employees, as well as the basis of cooperation of the Bureau with other institutions, enterprises and organizations.
As noted in the explanatory note, the adoption of the Law will increase the effectiveness of law enforcement agencies in the formation and use of financial resources of the state and its economic security. As a result, it will reduce the shadow business in Ukraine and increase tax revenues, optimize law enforcement structures, logistics, and reduce the total number of employees who fight financial crime.
In addition, on February 9, the Speaker of the Parliament signed the Law of Ukraine No. 4090, which sets the deadline for the liquidation of the tax police in connection with the establishment of the Bureau of Economic Security of Ukraine. The document provides for the liquidation of the tax police from the date of the decision of the Cabinet of Ministers of Ukraine on the commencement of the Bureau of Economic Security of Ukraine, but not later than 6 months from the date of entry into force of the Law of Ukraine “On Bureau of Economic Security of Ukraine.”
Both Laws were sent for signature to the President of Ukraine.