Zelenskyy signs law on tax increases

President Volodymyr Zelenskyy signed a law on tax increases.

This was announced by the MP from the Holos faction, first deputy chairman of the committee Yaroslav Zhelezniak, in Telegram, Ukrainian News Agency reports.

"After 44 days, the President signed a historic tax increase No. 11416-d. The one he himself agreed to in this version," the MP wrote.

The law will enter into force after publication, which will be on November 30.

"Whether we will fix the conflicts or not, we will know only in the next plenary week. Is this already "deregulation" and "predictability" for businesses from the Resilience Plan or not?" Zhelezniak added.

Details of the law:

▪️ increase in military fee from 1.5% to 5%, except for the military;

▪️ military fee in the amount of 1% of income for individual entrepreneurs of the 3rd group;

▪️ military fee for individual entrepreneurs paying the single tax of groups 1, 2 and 4 at the level of 10% of the minimum wage;

▪️ setting the corporate income tax rate for non-bank financial institutions at the level of 25%;

▪️ monthly submission of personal income tax reporting (for economic reservation);

▪️ 50% tax on bank profits based on the results of 2024.

As Ukrainian News Agency earlier reported, the head of the Verkhovna Rada of Ukraine Committee on Finance, Tax and Customs Policy, Danylo Hetmantsev, is convinced that there is no alternative to increasing taxation in the current situation in Ukraine.

Hetmantsev reported that the authorities are not considering the emission of the hryvnia or devaluation as an alternative to increasing taxes.

On November 27, Shmyhal stated that the laws on the state budget for 2025 and tax increases should be signed by President Volodymyr Zelenskyy in the coming days and come into force on December 1, as required by key creditors, in particular the International Monetary Fund.