The Verkhovna Rada supported the tax increase in the first reading

The Verkhovna Rada supported the tax increase in the first reading

The Verkhovna Rada in the first reading voted for bill №11416-d on raising taxes.

This was reported by People’s Deputy Yaroslav Zheleznyak.

The new tax package includes the following provisions:

• an increase in the military levy from 1.5% to 5%;
• establishment of a military levy at 1% of the income for single tax payers of the third group;
• tax increases for the first and second groups of individual entrepreneurs;
• advance payments at gas stations;
• setting the profit tax rate for banks at 50% for the year 2024;
• setting the profit tax rate for non-banking financial institutions (excluding insurers) at 25%.

In 2024, these tax changes will bring 58 billion UAH to the state budget, and in 2025 — 137 billion UAH.