The final adoption of a bill raising taxes may negatively affect the economy: Businesses offer an alternative. The current version of the draft law provides for an increase in the military tax from 1.5% to 5%, a 50% tax on bank profits in 2024, and 25% for non-bank financial institutions. The bill foresees add... #ReformsinUkraine #ShadowEconomy #TaxesinUkraine #UkraineBudget #UkraineBudgetDeficit #UkraineEconomy
Ukrainians are ready for EU tax norms but are not prepared for an immediate tax increase. Most Ukrainians (52%) are inclined to believe that the tax policy should correspond to EU taxation, according to survey data from the Razumkov Center. At the same time, 35% of respondents believe this... #RazumkovUkraine #SociologicalSurvey #TaxesinUkraine #UkraineTax #UkrainiansIncome
Ukraine has a $5B deficit in its budget for weapon purchases, so the government is preparing to raise taxes. Ukraine’s state budget has an approximate $5B shortfall of what is needed to purchase weapons, Minister of Finance Serhiy Marchenko said, because over the past six months, Ukraine has received minimal... #SerhiyMarchenko #TaxesinUkraine #UkraineBudget2024 #UkraineDefensePurchases #WarinUkraine
Due to the non-taxation of 40% of the grain harvest, Ukraine has lost billions of dollars. Against the background of the war, Ukrainian farmers are resorting to “optimization” of grain taxation, which is why about 40% of the grain harvest avoids it altogether. Over the past two ... #agroexportukraine #agroUkraine #FarmersUkraine #TarasKachka #TaxesinUkraine #Ukrainiangrain
The government is considering raising taxes as part of the IMF program. The Cabinet of Ministers is considering a plan to increase budget revenues by 0.5% of GDP, which Ukraine must present within the IMF program. To that end, the government plans to introduce additional ... #IMFprogramm #TaxesinUkraine #taxreform #UkraineBudget2024 #VATtaxesinUkraine
Last year, the budget received more than ₴1.2 trillion in tax revenues. According to the State Tax Service, income (balance) to the consolidated budget in 2023 from taxes will amount to ₴1.213T. The Ministry of Finance of Ukraine’s budget indicators for the collected reve... #financeUkraine #TaxesinUkraine #UkraineBudget #UkraineBudgetRevenue
Ukrainian banks’ net profit has soared by almost 600%; financial institutions have earned more than ₴130B. According to the results from 11 months of the year, banks’ net profit (after tax) amounted to ₴130.55B. In November alone, this number was ₴7.85B, reported the head of the Committee on Financial Issu... #DanyloHetmantsev #TaxesinUkraine #UkraineBanksProfits #UkrainianBanks
The business community names the key obstacles to its development and investment in Ukraine. According to the EBA, compared to last year, the number of those considering tax legislation to be of high quality decreased from 26% to the current 9%. According to the interviewees, constant changes... #TaxesinUkraine #UkraineEconomy #UkraineTaxSystem #бізнесвУкраїні
How will interest rates on loans and deposits change because of the increased bank income tax? The increase in the bank profit tax from 18% to 50% in 2023 and 25% in the following years may provoke an increase in loan rates by financial institutions and a decrease in deposit rates to ensure sta... #AndriyDubas #OleksandrPisaruk #TaxesinUkraine #UkraineBanksProfits #UkrainianBanks
Bank profit tax increased to 50% in 2023 and 25% in subsequent years. The Ukrainian Parliament adopted a draft law on a temporary increase in the bank tax rate from an 18% to 50% tax on profits in 2023 and a permanent increase to 25% in the following years. The draft la... #financeUkraine #nbu #TaxesinUkraine #UkraineBanksProfits #UkrainianBanks
Since introducing the “Google tax” in Ukraine, the state budget has received ₴10.2B. According to a special committee of the Ukrainian Parliament, 98 non-resident providers of digital services have paid this tax in Ukraine. They paid ₴4.3B in 2022 and ₴5.9B in 2023 (as of October 1). ... #Google #GoogleTax #OnlyFans #TaxesinUkraine #UkraineBudget
Ukraine will start raising taxes on banks first if the IMF requests higher taxes. As of today, the Ministry of Finance does not foresee changes in the tax system anytime soon, and there is no need to talk about tax increases, Minister of Finance Serhiy Marchenko said at the EBA Glo... #financeUkraine #imf #SerhiyMarchenko #TaxesinUkraine #UkrainianBanks
Half of Ukrainians believe that corruption slows down business development. This is the opinion of 47% of the surveyed participants in a study from the Democratic Initiatives Foundation. Among other potential difficulties, almost 37% of the survey participants called the dest... #CorruptionUkraine #ObstacleForBusiness #TaxesinUkraine #Zelenskyy #бізнесвУкраїні
The Ukrainian Parliament has proposed a new tax for banks, providing UAH 10B to the budget. The parliament’s tax committee is preparing a draft law that allows for additional taxation of net interest income or excess bank profits. “Most likely, the new law will come into effect i... #DanyloHetmantsev #ReformsinUkraine #TaxesinUkraine #UkraineBanksProfits
The parliament talks about future tax changes in Ukraine. As part of their work on the National Revenue Strategy up to 2030, the Committee on Finance, Tax and Customs Policy is preparing proposals for changes in five priority areas of taxation, said the head... #DanyloHetmantsev #TaxesinUkraine #UkraineTaxSystem
The IMF criticizes Ukraine’s simplified taxation system. The comments relate to certain aspects of the simplified taxation system based on the single tax in Ukraine. It creates opportunities for arbitrage between tax groups and lower taxes instead of the ge... #EFFprogram #imf #TaxesinUkraine #UkraineTaxSystem
The tax rate in Ukraine exceeds the European rate and leads to shadow wages. The actual income tax rate for Ukrainians today reaches 51.5%. To pay a salary of UAH 20,000, you need to pay about UAH 11,000 in taxes, said Rostislav Shurma, deputy head of the President’s Off... #IncomeTaxationUkraine #RostyslavShurma #TaxesinUkraine
The government has resumed the taxation of imports and cars cleared through customs. The Ukrainian parliament re-established the customs duties for individuals when importing vehicles as well as the VAT on imported goods. The resumption of VAT payment on imports came into force for f... #Export #Import #TaxesinUkraine #UkraineTaxation
New tax law regime adopted for IT companies. Diya.City will come into force at the end of January 2022, said Minister of Digital Transformation Mikhail Fedorov. In 2022, IT companies will apply and pay taxes under the new tax system. Diya.city w... #ITukraine #TaxesinUkraine #TaxforIT #TaxlawinUkraine
The Cabinet of Ministers proposes to bar the exit from Ukraine of the head of a company with a tax debt of $35,000 or more that is 30 days overdue , reported on the governmental portal. In a measure approved Wednesday, the government “has the right to apply to the court to establish a temporary restriction on the right of the head of such taxpay... #TaxesinUkraine #TaxPayersUkraine #TaxservicesUkraine
