Military levy for individual entrepreneurs comes into effect today

Military levy for individual entrepreneurs comes into effect today, January 1, 2025.

This is evidenced by the data of the relevant law, Ukrainian News Agency reports.

On December 4, 2024, the Verkhovna Rada adopted in the second reading draft law No. 9319, which, among other things, makes technical corrections to the law on increasing taxes, which entered into force on December 1.

The law provides for:

- retroactive taxation has been canceled (from October 1);

- for single tax payers, military levy is introduced from January 1, 2025;

- for income based on the results of the annual declaration for 2024, a rate of 1.5% will be applied (except for property transactions carried out in December 2024);

- it is envisaged to provide benefits for paying military levy for individual entrepreneurs in temporarily occupied territories, individual entrepreneurs of military personnel, individual entrepreneurs on sick leave and on vacation by analogy with the single tax;

- the military levy for e-residents has been abolished;

- it is envisaged to allow the military levy paid by individual entrepreneurs to be credited against the minimum tax liability and other clarifying provisions.

As the Ukrainian News agency earlier reported, Danylo Hetmantsev previously reported that revenues to the state budget for 2024 from tax increases will amount to about UAH 8 billion instead of the planned UAH 21 billion.

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