Ukraine is preparing to raise taxes: which fees will increase
The new tax will apply to corporate income tax payers and single tax payers of groups 3 and 4.
The Cabinet of Ministers of Ukraine is considering a draft law that provides for significant changes in the country’s tax system with the aim of increasing tax revenues to the state budget by UAH 140 billion. About this reported People’s Deputy Yaroslav Zheleznyak.
The draft law provides for an increase in the military tax rate to 5% of the income of individuals, defined by Article 163 of the Tax Code. In addition, it is planned to introduce a military levy for legal entities in the amount of 1% of income from any activity, which will apply to corporate income tax payers and single tax payers of groups 3 and 4.
Individual entrepreneurs will be required to pay a military levy in the amount of 5% of the calculation of two minimum wages per month or 1% of income, depending on the group of the single tax.
It is also proposed to introduce a military tax of 5% on bankable metals, 30% on jewelry made of gold, platinum and precious stones, 15% on new passenger cars subject to the first state registration in Ukraine, and 5% of the income from the sale of one of real estate during the year for individuals.
In addition, the draft law provides for the establishment of a 5% military levy for providers of mobile communication services. Businesses engaged in the retail trade of fuel will be required to pay monthly advance income tax contributions in the amount of 0.5 of the minimum wage for each cubic meter of fuel storage tanks.
It is also proposed to establish an excise tax rate of 0.1 euro per 1 liter on sweet carbonated drinks.
Currently, the draft law is under consideration by the government. After that, it will be submitted to the Verkhovna Rada of Ukraine for further discussion and approval.
As a reminder, the Verkhovna Rada of Ukraine previously adopted draft law No. 11256-2, which provides for an increase in the excise tax on fuel to the minimum level established in the European Union. According to the adopted document, excise tax rates on gasoline will increase to 359 euros per 1,000 liters, on diesel fuel to 330 euros per 1,000 liters, and on liquefied gas to 125 euros per 1,000 kilograms (about 68 euros per 1,000 liters).
