The Committee of the Verkhovna Rada supported the draft law on raising taxes – Zheleznyak

The Tax Committee of the Verkhovna Rada supported the version of the government draft law on raising taxes 11416-d before the repeated first reading. People’s deputy from the “Voice” faction, deputy chairman of the Verkhovna Rada committee on tax policy, Yaroslav Zheleznyak, announced this on September 16.

According to the people’s deputy, the legislative initiative provides for the following:

• increase in military duty from 1.5% to 5%;
• tax increase for the 1st-2nd group of FOP;
• advance payments at gas stations;
• 1% on all forms of FOP of the 3rd group;
• 25% of profit to financial institutions;
• monthly reporting of personal income tax (for economy booking);
• 50% tax on bank profits in 2024.

Zheleznyak added that, if adopted, such tax changes will bring in 58 billion hryvnias in 2024, and 137 billion hryvnias in the following year.

On September 3, the Verkhovna Rada adopted in the first reading draft law No. 11417 on amendments to the budget for 2024, which increased defense spending by about 500 billion hryvnias.

On July 18, the Cabinet of Ministers registered the draft law “On Amendments to the Tax Code”. The head of the budget committee of the Verkhovna Rada, Roksolana Pidlas, claims that if taxes are not raised, the military risks being left without support already at the end of September.

On September 3, in the Verkhovna Rada, deputies did not support the draft law on tax increases in the first reading.