The Verkhovna Rada adopted in general the law (No. 11416d) on amendments to the Tax Code of Ukraine regarding the peculiarities of taxation in the conditions of martial law, which provides for an increase from October 1 of this year in the military levy (VZ) from 1.5% to 5%, tax on bank profits up to 50% by 2024 and an increase in a number of other taxes and fees.
As can be seen from the broadcast conducted by People’s Deputy Oleksiy Goncharenko from the Council, 247 People’s Deputies voted for the required minimum of 226 votes.
In particular, the law was supported by 192 deputies of “Servants of the People”, 18 – “Platforms for Life and Peace”, 15 – “Trust”, 13 – “Restoration of Ukraine”, 4 – “For the Future” and 1 – “Voice”, while against 40 votes were cast.
During the hearings, a rule was included that the increase in the military levy does not apply to the salaries of military personnel.
In addition, the deputies could not support the amendment No. 988 of the head of the specialized parliamentary committee, Danylo Hetmantsev, on military conscription – 219 votes were cast “for”.
“I wouldn’t say now that the law on taxes has been adopted… To understand, this amendment is half of the law – it is physically laid out on 10 pages of A4. Therefore, something seems to me that the law will have to be re-voted in order to banally bring it to some order…”, commented the first deputy chairman of the committee Yaroslav Zheleznyak from the “Voice” faction.
He added that during the hearings, amendments were also adopted, which effectively cancel the status of a tax agent for a notary when he certifies sales contracts (mines) between natural persons.
As reported, the draft law No. 11416d, in addition to increasing the salary for employees, also provided for its introduction for individual entrepreneurs in the amount of 1% of the turnover for the III group and 10% of the minimum salary (currently UAH 800) for the I, II th and IV groups, an increase to 50% of the bank profit tax for the entire year 2024 and an increase from 2025 from 18% to 25% of the profit tax for financial institutions (except for insurers).
Other new regulations include the introduction of advance payments on the profit of gas stations, tying the advance payment rate for currency exchange points to the euro, an increase in the minimum tax liability for agricultural land and an increase in the rent for the extraction of crushed stone, an increase in the minimum wholesale and retail prices for alcohol drinks for 50%, but at the same time exemption from taxation of funds received by citizens within the framework of the national cashback program.
In addition, from January 1, 2025, a rule will be introduced to switch from quarterly to monthly personal income tax reporting.
