The Committee recommends the Rada to support the law on tax increase: what changes are in store for Ukrainians
30 August 2024 09:23
The Committee recommended that the Verkhovna Rada adopt as a basis the revised draft law No. 11416-d on amendments to the Tax Code of Ukraine regarding the peculiarities of taxation during the period of martial law. This was announced by the Chairman of the Committee on Finance, Taxation and Customs Policy Danylo Hetmantsev, "Komersant Ukrainian" reports
What is provided for by the bill:
- increasing the military tax rate from 1.5% to 5%;
- establishment of a military tax in the amount of 1% of income for individual entrepreneurs – single tax payers of the third group;
- establishing the military tax for sole proprietors – single tax payers of groups I, II and IV at the level of 10% of the minimum wage.
- it was determined that the established peculiarities of military taxation will be valid until 31 December of the year in which martial law is terminated;
- setting the corporate income tax rate for non-bank financial institutions (except for insurers) at 25%;
- improvement of the proposed model for determining the amount of advance payments for the purposes of corporate income taxation of enterprises engaged in retail fuel trade;
- monthly reporting on the amount of income accrued (paid) in favour of individual taxpayers and the amount of tax withheld from them, as well as the amount of the accrued single contribution.
In addition, a separate draft law is to be developed on amendments to the Budget Code of Ukraine to transfer the revenues from the military fee to the special fund of the State Budget for the purpose of their targeted allocation for security and defence needs.
Earlier it was reported that the Verkhovna Rada of Ukraine plans to postpone voting on the draft law on tax increases until October 2024, and the document itself has undergone significant changes.
