Ministry of Finance (Ukraine)

The Ministry of Finance of Ukraine (Ukrainian: Міністерство фінансів України) is the ministry of the Ukrainian government charged with developing and implementing national financial and budget policies, and with defining national policies in customs and taxation. The ministry is responsible for ensuring that the state has enough resources to perform its functions and that financial policies promote economic growth.

Role

Specific tasks that the ministry has to perform^[3] include:

regulating financial, budgeting, customs and taxation affairs,
regulating administration of Ukraine’s single social insurance tax;
defining state policy for combating violations of tax and customs law;
defining state policy for combating laundering proceeds from crime and financing of terrorism; cooperating with the Financial Action Task Force on Money Laundering and other international organisations in this area;
regulating issues related to financial control, state treasury administration of public funds, accounting and accounting standards, running lotteries, issuing securities and strict accounting documents, handling of precious metals and gems;
analysing and forecasting public revenue, drafting mid-term Budget Declarations and annual Budget Laws;
coordinating implementation of the State Budget;
setting guidelines for budget planning; enhancing effectiveness of public financial management;
managing public and state-guaranteed debt;
regulating intergovernmental fiscal relations; greenlighting sub-national borrowing and provision of debt guarantees by local governments;
informing general public on economic and fiscal policies of the state, as well as on the results of implementing the state’s budget;
assessing financial viability of regional development projects;
management of state-owned banks;
defining and implementing national policy on development of financial services, development of state-owned banks, other financial institutions;
cooperating with the International Monetary Fund and other international financial organisations.

Senior leadership

Structure

Minister of Finance:

Minister’s Office;
Department for Strategic planning and European integration;
State budget department;
Local budgets department;
Department for harmonization of state internal financial control;
Department of financial and economic affairs, accounting and financial reporting;
Department public and government relations;
Legal department;
Department for analysis and communications;
Internal audit department;
Anti-corruption department;
Mobilisation department;
Classified records office;

Deputy Minister, customs and taxation:

Department for taxation policy;
Department for database monitoring and verification of budget payments;
Department for revenue forecasting and accounting standards;
Department for assay control and strict accounting documents;

Deputy Minister, energy and fiscal risks

Department for fuel and energy;
Department for industrial expenditure;
Department for public debt management;
Department for fiscal risks management;
Department for cash management.

Deputy Minister, social and humanitarian affairs:

Department for management of expenditure in humanitarian sectors;
Department for management of expenditure in social sectors;
Department for management of expenditure of government agencies.

Deputy Minister, defense and security:

Department for management of expenditure on defense, state security and law enforcement.

Deputy Minister, financial policy and international cooperation

Financial policy department;
Department for international financial projects;
Department for international cooperation.

State Commissioner for public debt management:

Office of the State Commissioner for public debt management.

Acting State Secretary:

Department for Human resources and organizational management;
Department for submissions and procedural control;
Department of IT and information systems;
Administrative Office

Ministry agencies

There are several central executive agencies in Ukraine which report to the Cabinet of Ministers through the Minister of Finance.^[5] These include:

State Treasury Service;^[6]
State Tax Service;^[7]
State Customs Service;^[7]
State Financial Monitoring Service of Ukraine;^[8]
State Audit Service of Ukraine.^[9]

Note: Prior to 10 September 2014, the list of executive agencies under the Ministry of Finance also included the State Assay Service. This agency was closed down as part of the Government’s initiative to streamline the structure of executive agencies. Functions in assay control were split between the Ministry of Finance (implementing state assay control policy) and the State Service for Food Safety and Consumer Protection (protecting the rights of consumers of precious metals and gems).^[10]

Supporting establishments

State gemological center of Ukraine^[11]
State repository of precious metals and stones
Museum of decorative and precious stones
Kyiv Offset Factory
Main planning and service center of computer financial technologies
Administration in exploitation of assets complex
Recreation site Koncha-Zaspa
Administration Office in International Financial Cooperation projects
Assay Control State Offices (Dnipro, Donetsk, Western, Crimean, Southern, Eastern, Central)

Scientific-researching financial institute

List of ministers of finance of Ukraine

References

^ a b c "Нардепи провалили призначення нових міністрів: фінансів та МОЗ". Українська правда (in Ukrainian). 30 March 2020. Retrieved 2 April 2024.
^ "Parliament rejects appointment of former deputy head of presidential administration Marchenko as finance minister". Interfax-Ukraine. 30 March 2020. Retrieved 2 April 2024.
^ Положення про Міністерство фінансів України, затверджене постановою Кабінету Міністрів України від 20 серпня 2014 р. № 375
^ "Міністерство Фінансів України". mof.gov.ua.
^ Presidential Decree of December 9, 2010 № 1085/2010 «Про оптимізацію системи центральних органів виконавчої влади» [On the optimization of the system of central executive bodies]
^ "Про затвердження Положення про Державну казначейську службу України". Офіційний вебпортал парламенту України. Retrieved Oct 14, 2022.
^ a b "Про затвердження положень про Державну податкову службу України та Державну митну службу України". Офіційний вебпортал парламенту України. Retrieved Oct 14, 2022.
^ "Про Положення про Державну службу фінансового моніторингу України". Офіційний вебпортал парламенту України. Retrieved Oct 14, 2022.
^ "Decree of the Cabinet of Ministers of Ukraine of 20 October 2019 № 879". zakon.rada.gov.ua.
^ "Про оптимізацію системи центральних органів виконавчої влади". Офіційний вебпортал парламенту України. Retrieved Oct 14, 2022.
^ "State Gemological Centre of Ukraine". www.gems.org.ua.
^ VR approved structure of Cabinet of Ministers (update), UNIAN (March 11, 2010)
^ a b Yanukovych dismisses Khoroshkovsky from military service, Kyiv Post (19 January 2012)
^ Khoroshkovsky dismissed as finance minister, appointed first deputy prime minister Archived 2012-05-23 at the Wayback Machine, Interfax Ukraine (22 February 2012)
^ a b Yanukovych appoints Kolobov as finance minister, Kyiv Post (28 February 2012)
^ a b Rada supports coalition-proposed government lineup, Interfax-Ukraine (2 December 2014)
Rada approves new Cabinet with three foreigners, Kyiv Post (2 December 2014)
(in Ukrainian) Rada voted the new Cabinet, Ukrayinska Pravda (2 December 2014)
^ a b c New Cabinet formed in Ukraine, UNIAN (14 April 2016)
^ Oksana Markarova appointed Ukraine's acting finance minister, UNIAN (8 June 2018)
^ a b Ukraine parliament appoints Markarova, Friz ministers, UNIAN (22 November 2018)
^ "Ukrainian lawmakers vote to appoint Ihor Umansky as new finance minister". Reuters. March 4, 2020. Retrieved March 5, 2020.
^ "Ukraine's Rada sacks health, finance ministers amid virus crisis". www.unian.info. Retrieved Oct 14, 2022.

External links

Media related to Ministry of Finance (Ukraine) at Wikimedia Commons

Official Website of the Ukrainian Ministry of Emergencies
MinFin Ukraine - Official Twitter account of the Ministry of Finance of Ukraine