Rada voted for historic tax increase
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The Verkhovna Rada has supported in general the draft law No. 11416-d on tax increases.
This was announced by MP Yaroslav Zheleznyak, Censor.NET reports.
The decision was supported by 247 MPs.
What changes are expected
- Starting from October 1, 2024, the military tax on salaries of all individuals (including those working in the "Diia.City" mode) will increase from 1.5% to 5%. This means that individuals' incomes will be taxed retroactively.
- Starting January 1, 2025, the military tax on other personal income (other than salaries) will also increase from 1.5% to 5%.
- For individual entrepreneurs of groups 1, 2, and 4, a military tax will be introduced in the amount of 10% of the minimum wage set as of the 1st day of the reporting month. Starting from October 2024, this will amount to UAH 800 per month.
- Individual entrepreneurs of the 3rd group will pay 1% of their income in the form of a military fee.
- Banks will be subject to an increased income tax of 50% for 2024. As banks have already paid taxes at the old rate, the new tax will be applied retroactively.
- Starting January 1, 2025, the income tax for non-banks (except insurance companies) will increase from 18% to 25%.
- Monthly advance payments of income tax will be introduced for gas stations: UAH 30, 45 or 60 thousand for each station, depending on its type. The amount of overpayments will not be taken into account to reduce tax liabilities in the future.
- An advance payment of income tax will be introduced for exchange offices: 700 euros for each exchange office in Kyiv, 600 euros in cities with a population of more than 50 thousand, and 200 euros for other settlements.
- Minimum land tax (MLT) in the amount of UAH 700 and UAH 1400 per hectare.
- Monthly reporting on personal income tax, military duty, and unified social contribution will start on January 1, 2025. This is necessary for the implementation of "economic reservation".
- Income from the "national cashback" will not be subject to PIT in 2024-2025.
- The rent for the extraction of rocks for crushed stone, granite and sand will be at least $5 per ton.
Earlier it was reported that the Main Legal Department of the Verkhovna Rada recognized some provisions of the draft law No. 11416-d on tax increases as inconsistent with the Constitution of Ukraine.
