Expert: Parliament may adopt law on additional taxation of banks as early as next week

This was stated by Olena Korobkova, Chairman of the Board of the League of Banks of Ukraine, at a press conference on "Financial Stability of the Country and Citizens" at the This was reported by the Media Center Ukraine - Ukrinform.

"Yesterday, the committee recommended to adopt in the second reading the draft law on taxation of excess profits of banks. As far as we know, this draft law will be voted on in the parliament next week," Korobkova said.

She noted that initially the document provided for an increase in the corporate income tax rate for banks from 18% to 36%, and the banks were sympathetic to this. However, during the preparation of the draft law for the second reading, the original concept was changed, so now the taxation of excess profits of banks in 2023 will be carried out at a rate of 50%, and starting from 2024 the basic income tax rate for banks will be 25%.

"This is not very good news in retrospect," Korobkova said.

As reported, on October 19, the Verkhovna Rada supported the draft law on additional taxation of banks in the first reading. At that time, the document provided for an increase in the income tax rate for banks from 18% to 36% without the right to offset losses of previous periods during 2024-2025. The state budget for 2024 has already taken into account the adoption of this law and has been set aside as a plus of UAH 9.9 billion.