Tax hikes are coming soon: how much will you have to pay for cars and housing
18 July 2024 16:09
The Cabinet of Ministers of Ukraine has prepared a draft law that dramatically increases taxes for citizens. This was announced by Ukrainian MP Yaroslav Zheleznyak, reports "Komersant Ukrainian"
The draft law includes an increase in the military fee for various categories of taxpayers, taxes on transactions with real estate, vehicles, jewellery, etc. The MP claims that in this way the government plans to raise an additional UAH 140 billion, but he did not specify over what period.
The main points of the proposed changes are as follows.
Military tax for individuals
- Increase to 5% of the income defined in Article 163 of the Tax Code.
Military duty for legal entities
- 1% of income from any activity for income tax and single tax payers of groups 3 and 4.
Military duty for individual entrepreneurs
- Single tax of groups 1, 2 and 4: 5% of two minimum wages per month.
- Single tax group 3: 1% of income.
Tax on transactions with precious metals
- 5% of the value of the purchase of precious metals.
Tax on jewellery
- 30% of the value of jewellery sold for businesses and individual entrepreneurs.
Car purchase tax
- 15% of the value of new passenger cars at first registration.
Real estate sales tax
- 5% of the income from the sale of one property by an individual per year.
Tax on mobile communication services
- 5% of the cost of services paid by users.
Tax for petrol stations
- Monthly income tax advance of 0.5 times the minimum wage per 1 cubic met re of fuel tanks.
Excise tax on sweet carbonated beverages
- eUR 0.1 per 1 litre.
The government is expected to review and approve the draft law in the near future. After that, it will be considered by the Verkhovna Rada and, most likely, adopted. According to Danylo Hetmantsev, Chairman of the Verkhovna Rada’s Tax Committee, there is no alternative to raising taxes.
