2024-09-17T16:30:00+03:00 Economy 2024-09-24T04:00:02+03:00

Ukrainian news

Rada to raise taxes and return 50% of tax on excess profits of banks

Rada to raise taxes and return 50% of tax on excess profits of banks

The Verkhovna Rada intends to raise taxes and return 50% of the tax on excess profits of banks.

Member of Parliament from the Holos faction, Yaroslav Zhelezniak, announced this on his Telegram channel, the Ukrainian News agency reports.

241 parliamentarians voted for the adoption of bill No. 11416-d as a basis, with the minimum required 226, the Ukrainian News agency reports.

The bill adopted in the first reading provides for:

1) increase in the military tax for the period until December 31 of the year in which martial law will be terminated, namely:

- rate increase from 1.5% to 5%;

- establishment of the military tax in the amount of 1% of the income of taxpayers of the uniform tax of group 3;

- establishment of the military tax for individual entrepreneurs - taxpayers of the uniform tax of groups 1, 2 and 4 at the level of 10% of the amount of the minimum salary;

2) setting the income tax rate for banks for 2024 at 50%;

3) setting the income tax rate for non-bank financial institutions (except insurers) at 25%;

4) improvement of the proposed model for determining the size of advance payments from corporate income tax for gas stations;

5) changing the tax period from quarterly to monthly for reporting income paid to individuals (for economic booking);

6) instructing the Cabinet of Ministers to develop a bill on amendments to the Budget Code of Ukraine regarding the inclusion of military tax in the special fund of the State Budget in order to direct it to the needs of financial support of the security and defense sector.

As the Ukrainian News agency earlier reported, the International Monetary Fund may demand an additional increase in taxes if there is a significant difference in revenues and expenditures in the state budget.