On November 28, President of Ukraine Volodymyr Zelenskyy signed a law providing for a tax increase that will come into effect on December 1.
This is evidenced by information on the website of the Verkhovna Rada.
The law was signed by the President and returned to the Verkhovna Rada on the same day. Approval of this document will allow Ukraine to receive additional financial resources for the purchase of weapons and ammunition, as well as for the payment of salaries to the military.
The main changes envisaged by the law include:
- 50% tax on banks;
- Increase in the minimum tax liability for land;
- 25% income tax for financial companies;
- exemption of cashback from taxation;
- transition to monthly reporting of personal income tax (PIT);
- increase in the rent for the extraction of crushed stone.
However, MPs rejected the proposal to increase the military tax, and it will remain at 1.5% instead of the proposed 5%.