2024-09-19T15:45:00+03:00 Economy 2024-09-24T04:00:01+03:00

Ukrainian news

Purchasing power of Ukrainians will drop by 20% after increase in taxes - MP Yuzhanina

Purchasing power of Ukrainians will drop by 20% after increase in taxes - MP Yuzhanina

The purchasing power of Ukrainians will drop to 20% after the increase in taxes, excise duties on fuel and the return in 2025 of the mandatory payment of a single social contribution for individual entrepreneurs.

Verkhovna Rada Member from the European Solidarity faction, member of the committee on finance, tax and customs policy, Nina Yuzhanina, told the Ukrainian News agency about this.

"If we talk about how much less each family will be able to buy, I think it's somewhere around 15-20%. That is, the cumulative effect on the ability of each family, having the same money, they will be able to buy 15-20% less," she said about the consequences of increasing taxes, the return of the mandatory payment of a single social contribution for individual entrepreneurs and raising the excise tax rates on fuel.

In her opinion, it is absolutely obvious that most of the changes that are currently being adopted regarding taxes and excise duties will affect the opportunities and incomes of every citizen in Ukraine.

As the Ukrainian News agency earlier reported, Member of Parliament from the Servant of the People, deputy head of the committee on finance, tax and customs policy, Olha Vasylevska-Smahliuk said that the law on raising taxes, after its adoption and publication, will enter into force "retroactively", namely on October 1.