The main thing in the law is to increase the military tax on all incomes of Ukrainians from 1.5% to 5% this year and next.
President of Ukraine Volodymyr Zelensky signed the law on increasing taxes adopted by the Verkhovna Rada.
This is stated in draft law 11416-d on the Rada website.
The law provides, in particular:
- increase in military tax from 1.5% to 5% except for military personnel;
- military tax for sole proprietors;
- establishment of 25% income tax for financial companies;
- monthly submission of personal income tax reports;
- 50% tax on excess profits of banks.
As Prime Minister Denys Shmyhal stated on November 27, this law is one of the key demands of our creditors and is important for filling all expenditure items for defense with funds this year and next.
Let us recall that the laws on the state budget for 2025 and on amendments to the tax code will come into force on December 1.
Note that on October 10, the Verkhovna Rada voted in the second reading for a bill providing for a significant increase in taxes and military tax.
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