MP on the draft law on tax hikes: more than UAH 152 billion in revenue is expected from it
Kyiv • UNN
More than UAH 152 billion in revenues are expected from the draft law on tax increases. The main revenues will come from the bank tax and the tax on profits of financial companies, said the head of the Verkhovna Rada Budget Committee.
More than UAH 152 billion in revenues are expected from the draft law on tax increases. This is mainly due to the revenues from the bank tax and the corporate income tax on financial companies.
This was stated by Roksolana Pidlasa, MP, chairwoman of the Parliamentary Committee on Budget, during a telethon, UNN correspondent reports.
We have already partially budgeted revenues from this project (on tax increases - ed.), but only in the amount of UAH 126.7 billion. By the second reading, it changed and we already expect more than UAH 152 billion in revenues from this tax package. This is mainly due to the revenues from the bank tax and the income tax on financial companies. That is, we have about UAH 25 billion of additional revenues that we will be able to spend on security and defense
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Yaroslav Zheleznyak, MP, Deputy Chairman of the Committee on Tax Policy, reported that the Verkhovna Rada Committee supported the draft law on tax increases for the second reading. The document proposes an increase in the military tax from 1.5% to 5%, as well as an increase in the bank profit tax to 50%.
Main provisions of the document:
- introduction of the tax-free regime for individual entrepreneurs;
- increase in the MPZ for land;
- 25% of the CPT for financial companies;
- exemption of cashback from taxation;
- transition to monthly personal income tax reporting;
- increase in rent for crushed stone extraction.
According to Zheleznyak, the government refused to postpone it to November 1 or partially replace it with a VAT increase .
The document will be considered in the Verkhovna Rada next week and signed into law in the second half of October. However, as I pointed out to the MP, some of the provisions will come into effect retroactively, on October 1. In September, the Verkhovna Rada failed to pass a bill to increase taxes by 30 billion hryvnias in the first reading with 224 votes in favor and 226 votes against. The document was sent back for a repeated first reading.
Nevertheless, on September 17, the Verkhovna Rada of Ukraine supported in the first reading the draft law No. 11416d on increasing taxes by UAH 58 billion this year and UAH 137 billion next year with 241 votes in favor.
