The Verkhovna Rada has passed a draft law on tax increases aimed at increasing funding for the Ukrainian army.
The draft law on amendments to the Tax Code of Ukraine regarding taxation during martial law was voted in favour by 241 MPs. This was reported by Oleksiy Honcharenko.
- Increase in military duty. For individuals, it will increase from 1.5% to 5%. Individual entrepreneurs of groups I, II and IV will pay 10% of the minimum wage. Group III individual entrepreneurs - 1% of income
- the income tax for banks will be 50% this year. Credit unions will pay an income tax of 25%.
- advance income tax payments for petrol stations
- expanding the range of potential investors to whom the state is willing to consider selling
- allowing the sale of any state share in a bank (not just 100% of the state's shares, as provided for in the current law)
‘It is also planned to change the tax period from quarterly to monthly for reporting on income paid to individuals for economic booking,’ the parliament explained.
The amendments will be in force until 31 December of the year the martial law ends.