Getmantsev to Introduce Bill to Extend the Tax on Banks’ Excess Profits: What It Entails
29 March 20:14
Danylo Getmantsev, chairman of the Verkhovna Rada’s Finance Committee, plans to introduce a bill to extend the 50% tax rate on bank profits through 2027.
He wrote about this on Telegram on March 28, according to "Komersant Ukrainian".
As the MP noted, if the decision is supported by lawmakers, it will need to be implemented in the first half of the year. This is because the Constitutional Court’s position on adhering to reasonable deadlines and avoiding sudden changes in taxation must be taken into account.
“The biggest source of bank profits right now is not innovation, increased efficiency, or a significant expansion of lending programs for businesses and the public, but risk-free transactions with government securities used to tie up bank liquidity. This situation isn’t going anywhere anytime soon. Therefore, the tax must be extended. Everything we collect in taxes goes to the army,” Getmantsev wrote.
He is confident that the arguments in favor of extending the increased tax rate on banks’ excess profits are clear at this time.
“But just like last year, I am ready for a professional discussion with the regulator, industry associations, and banks,” the MP added.
As a reminder, at the end of 2025, the Verkhovna Rada adopted in the second reading and as a whole a bill on taxing bank profits at 50% in 2026.
