The Verkhovna Rada’s Finance Committee Backed a Bill Imposing a 50% Tax on Bank Profits: What Does This Mean?
16 June 14:57
The Verkhovna Rada Committee on Finance, Tax, and Customs Policy has recommended that parliament adopt draft law No. 15262 as a basis and in its entirety.
Committee Chair Danylo Getmantsev announced this on his Telegram channel, according to "Komersant Ukrainian".
The bill provides for:
- An extension of the increased corporate income tax rate for banks until 2027. The rate will remain at 50%.
- A ban on reducing pre-tax financial results by the amount of losses from previous periods.
According to Getmantsev, these measures are intended to increase state budget revenues, with the amount expected to reach 50 billion hryvnia based on the results of the 2027 tax periods.
He noted that last year, the revenues of 60 banks reached 579.3 billion hryvnia, which is one-third more than in 2023 and 14% more than in 2024.
He emphasized:
“These are not just profits, but extraordinary profits earned by banks, primarily through transactions involving government securities.”
The increased tax rate was first introduced for banks’ 2023 profits as an exceptional wartime measure. Subsequently, this approach was also applied to the taxation of banks’ 2024 profits.
In 2025, banks paid tax at the base rate of 25%. However , in 2026, the higher rate was reinstated.
In December 2025, the President of Ukraine signed a law amending the Tax Code regarding the specifics of bank taxation.
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The Position of the National Bank of Ukraine
The National Bank of Ukraine (NBU) criticized the draft law , pointing to potential risks for the banking system.
“The 50% tax on bank profits was accepted with understanding by the banking sector in 2023 as a one-time, necessary measure, given the ‘non-market nature’ of profits in that year.
However, continuing this practice under current conditions poses a threat to further credit expansion and, more broadly, to banks’ ability to support the country’s economy to the necessary extent amid the war and post-war reconstruction,” the NBU stated.
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