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On 4 October, the Verkhovna Rada Committee on Finance, Taxation and Customs Policy decided to support the government’s draft law No. 11416-d, which provides for a significant tax increase, for the second reading. This was announced by MP Yaroslav Zheleznyak, noting that 19 members of the Committee voted in favour of the draft law, three abstained, and one was against.
The document is expected to be considered in the session hall next week. According to Zheleznyak, the president will sign the law in the second half of October, but some of the provisions will come into force on 1 October, i.e. retroactively.
What will change?
According to the revised draft law, tax revenues will increase by UAH 58 billion in 2023 and by UAH 137 billion in 2024. The main changes include:
• Підвищення військового збору з 1,5% до 5%.
• Введення військового збору для фізичних осіб-підприємців (ФОП).
• Збільшення податків для першої та другої групи ФОП.
• Авансові внески на АЗС.
• Введення 1% податку для всіх форм ФОП третьої групи.
• 25% прибуткового податку для фінансових установ.
• Помісячна звітність з ПДФО з 1 січня 2025 року.
• 50% податок на банки.
• Збільшення ренти на видобуток щебня.In particular, the increase in the military tax will have a direct impact on the financial situation of Ukrainians. It is expected that in October, most Ukrainians will receive reduced salaries due to the new tax rates.
The tax hike being prepared by the government raises many questions among experts and the public. Whether the economy will be able to withstand the new burden and what consequences it will have for businesses and ordinary citizens remain open. We look forward to further developments in the parliament.
