Tax increase law handed over to Zelenskyy for signature

The law on the increase of taxes was handed over to President Volodymyr Zelenskyy for signature.

This is evidenced by the data on the bill of bill No. 11416-d, the Ukrainian News agency reports.

Today, October 15, the law was signed by the Chairman of the Verkhovna Rada, Ruslan Stefanchuk, and sent to President Volodymyr Zelenskyy for signature.

After signing by Zelenskyy and publishing in the Holos Ukrainy (Voice of Ukraine), the law will enter into force.

According to the text of the law, tax increases will begin "retroactively" - from October 1.

The law on increasing taxes provides for:

1) increase in military tax for the period until December 31 of the year in which martial law will be terminated, namely:

• rate increase from 1.5% to 5%;
• at the same time, the military tax for the military remains at the level of 1.5%;
• establishment of the military tax in the amount of 1% of the income of taxpayers of the single tax of group III;
• establishment of the military tax for individual entrepreneurs - payers of the single tax of groups I, II and IV at the level of 10% of the minimum salary;

2) establishment of the income tax rate for banks for 2024 at 50%;

3) establishment of the income tax rate for non-bank financial institutions (except insurers) at 25%;

4) improvement of the proposed model for determining the amount of advance payments from corporate income tax for gas stations;

5) changing the tax period from quarterly to monthly for submitting reports on income paid to individuals (for economic booking);

6) instructing the Cabinet of Ministers to develop a bill on amendments to the Budget Code of Ukraine regarding the inclusion of military levies in the special fund of the State Budget in order to direct them to the needs of financial support of the security and defense sector.

As the Ukrainian News agency earlier reported, on October 14, the Verkhovna Rada unblocked the signing of the law on the increase of taxes.

To request a correction, please send an email.