The Ministry of Finance will propose to introduce the tax increase “retroactively” from October 1. The Tax Committee of the Verkhovna Rada adopted the version of the government's draft law on tax increases for a second first reading, MP Yaroslav Zheleznyak said, UNN reports .
“The Ministry of Finance: they will propose to introduce a tax increase “retroactively” from October 1,” Zheleznyak wrote on Telegram.
As Zheleznyak later added, the Verkhovna Rada Tax Committee passed the government's version of the tax hike bill for a second first reading.
The document provides for:
- Increasing the military tax from 1.5% to 5%
- Increase in taxes for 1-2 groups of individual entrepreneurs
- advance payments for gas stations
- 1% for all forms of group 3 individual entrepreneurs
- 25% of profit for financial institutions
- monthly personal income tax reporting (for economy bookings)
- 50% tax on bank profits in 2024.
“Since the law as a whole will not be adopted by October, the implementation will be retroactive to October 1.
Thus, this year's tax changes will bring in UAH 58 billion in 2024 and UAH 137 billion in the following year, Zheleznyak added.