Ukraine's parliament to consider bill on tax increases this week

Ukrainian MPs will consider at second reading this week the bill on the peculiarities of taxation during martial law.

A source in the Verkhovna Rada told this to Ukrinform.

The source noted that among the "hot topics" on the agenda for this week was bill No. 11416-d.

In particular, lawmakers propose increasing the military tax rate from 1.5% to 5% on the income of individuals and set it at 1% of the income for payers of the single tax of the third group and at 10% of the minimum wage for individual entrepreneurs of the first, second and fourth groups.

Under this document, the Cabinet of Ministers is instructed to develop a bill on the inclusion of the military tax in the special fund of the state budget.

It is also proposed to set the income tax rate for banks for 2024 at 50% and for non-bank financial institutions (except insurers) at 25% from January 1, 2025.

In addition, the bill proposes increasing rent payments for the extraction of crushed stone.

At the same time, income received as part of the "Made in Ukraine" program is to be exempt from taxation.

The Verkhovna Rada of Ukraine earlier supported at first reading the bill No. 11416d on increasing taxes by UAH 58 billion this year and UAH 137 billion next year.