Rada to raise bank profit tax rate to 50% in 2026

The Verkhovna Rada has supported in the 1st reading an increase in the corporate income tax rate for banks to 50% in 2026.

Danylo Hetmantsev, MP from the Servant of the People faction, chairman of the Parliamentary Committee on Finance, Taxation and Customs Policy, announced this on his Telegram channel, the Ukrainian News reports.

"The Parliament voted for draft law N14097 on amendments to the Tax Code of Ukraine regarding the peculiarities of taxation of banks with corporate income tax in 2026 as a basis," he wrote.

The bill provides for:

- a temporary increase in the profit tax rate for banks to 50% for 2026;

- a ban on reducing the financial result before taxation by the amount of losses from previous periods.

The MP emphasized that this is not about ordinary business and not about citizens, but about banks that have made record profits in wartime due to high interest rates, operations with government securities and government policy to support financial stability

This draft law is temporary.

But this year, the tax was not raised and banks will pay corporate income tax at the basic rate of 25%.

Banks earned a record-breaking UAH 106.4 billion in 8 months since Ukraine's independence, with bank profits amounting to UAH 13.6 billion in August.