The law on raising taxes: the government explained when it will start working and how much is expected in addition to the budget
Kyiv • UNN
The law on raising taxes will come into force on December 1 and will bring an additional UAH 8 billion in 2024. All funds are used to finance the salaries of military personnel.
Prime minister Denys Shmyhal explained that the law on raising taxes, which is also called "resource", will come into force on December 1, and is expected to bring an additional 8 billion UAH in 2024 and 140 billion UAH in 2025, writes UNN.
Details
"Amendments to the tax code will come into force on December 1. due to this, this year the state will additionally accumulate UAH 8 billion, and next year - UAH 140 billion. all these funds, without exception, will be used to finance the salaries of defenders and defenders of Ukraine. It is thanks to the internal financial resource of Ukraine that payments to our soldiers are provided," explained Prime Minister Denis Shmygal.
According to him, in general, in 2025, defense spending is UAH 2.23 trillion, of which UAH 1.16 trillion is the monetary support of military personnel.
"Thus, all Ukrainians who pay the military FEE HELP soldiers and make an important contribution to our resilience and the approach of a just peace," the prime minister wrote.
recall
On November 28, it was reportedthat President Volodymyr Zelensky signed Law No. 11416-D on the "historic" tax increase, which is also called "resource".
On the same day, it became knownthat the law on raising taxes was published online. People's deputy Yaroslav Zheleznyak noted that it was planned that the law would be published on November 30, so that it would come into force on December 1, because it is assumed that the law comes into force the day after publication, so this could have serious consequences for business.
However , already on November 29, informationappeared that the publication of the law on tax increases was removed. It will now be published tomorrow, November 30, and it will come into force on December 1, Zheleznyak indicated .
As reported, the document provides, inter alia:
- Increase in the military levy on personal income (wages, dividends, additional benefits, etc.) from 1.5% to 5%;
- Sole proprietors on a single tax of Groups 1, 2 and 4 are required to pay a monthly military fee in the amount of 10% of the minimum wage;
- For single tax payers of the third group, the military levy rate is set in the amount of 1% of income;
- Introduction of income taxes for the financial sector. The income tax rate for banks for 2024 is in the amount of 50%. For non-bank financial institutions (except insurers), the profit rate will be 25%. For them, taxation will be carried out from January 1, 2025.
