“The President of Ukraine, Volodymyr Zelenskyi, signed the law, which corrects the norm on increasing taxes for individual entrepreneurs. The new rates will not be effective from October 1, 2024, but from January 1, 2025. This is stated in project No. 9319 on the Council’s website. “Returned with the President’s signature,” the website says. In addition to FOPs, tax increases are transferred for”, — write on: ua.news
The President of Ukraine, Volodymyr Zelenskyi, signed the law, which corrects the norm on increasing taxes for individual entrepreneurs. The new rates will not be effective from October 1, 2024, but from January 1, 2025.
This is stated in project No. 9319 on the Council’s website.
“Returned with the President’s signature,” the website says.
In addition to FOPs, the tax increase is transferred for legal entities that work on the simplified taxation system of the third group.
The law on tax increases came into effect on December 1. The main thing in it was an increase in the rate of military tax on all incomes of Ukrainians from 1.5% to 5%.
In addition, the law obliges private entrepreneurs to pay military tax. They were to pay it for the fourth quarter of 2024. However, on December 4, the Verkhovna Rada adopted changes and postponed the payment of military duty for FOPs to 2025.
The law establishes the obligation to pay 1% of the military levy for taxpayers who are on the simplified taxation system, namely, for individuals-entrepreneurs of the III group and legal entities of the III group.
It is also provided for the establishment of a military levy for FOPs – payers of the single tax of groups I, II and IV at the level of 10% of the minimum salary (i.e. 800 hryvnias per month).
From January 1, 2025, monthly reporting of EUV (unified social contribution), personal income tax (personal income tax) and VZ (military levy) will be introduced for all tax agents.
We would like to remind you that changes to the Tax Code entered into force in Ukraine on December 1. The increase in taxes will allow to attract additional 8 billion hryvnias to the budget this year.
Also, from January 1, 2025, the income tax rates for financial companies will be increased to 25%.
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