Getmantsev told how taxes will change from October
Date: 2024-09-03 Author: Alexei Fomin Categories: ECONOMY
The corresponding bill is planned for consideration by the parliament this plenary week - from September 3 to 5. This was reported by the head of the parliamentary committee on finance, tax and customs policy Danylo Getmantsev.
On August 29, the committee recommended approval of bill No. 11416-d in the first reading. The document, in particular, provides for an increase in the military tax from 1.5 to 5%; the introduction of a 1% military tax on payers of a single tax of the 3rd group; 10% of the minimum monthly wage for sole proprietors - payers of a single tax of the 1st, 2nd and 4th groups.
It also provides for an increase in the tax rate for financial institutions other than banks from 18 to 25%. The tax will be levied based on the performance of financial institutions in 2025 and later.
Monthly advance payments on corporate income tax are being introduced for taxpayers engaged in retail fuel sales (for each gas station). In particular, in the amount of UAH 60,000 when selling two or more types of fuel; UAH 30,000 when selling only liquefied gas; UAH 45,000 if the share of liquefied gas in the total volume of fuel sold during the month is 50% or more.
Higher rates are set for gas stations that simultaneously sell alcohol and tobacco. UAH 80,000 when selling two or more types of fuel; UAH 40,000 when selling only liquefied gas; UAH 60,000 if the share of gas in the total volume of fuel sold is 50% or more.
In addition, the bill provides for a change in the tax period from quarterly to monthly for submitting tax calculations of income amounts to the regulatory authorities.
Recall that the initial version of the bill, developed by the government and registered in parliament on July 18, provided, among other things, for the introduction of a military tax on luxury. In particular, 5% of the income from the sale of one property per year; 15% of the purchase price of a new car; 30% of the cost of jewelry sold; 5% of the cost of bank metals when purchased from banks. All these proposals were not included in the final version of the bill.
Also, the bill did not include provisions on increasing the bank profit tax rate to 50% and introducing a military tax on business turnover in the amount of 1%.
The final version, submitted for the first reading, did not take into account proposals to increase the VAT rate. At the same time, the relevant parliamentary committee claims that it is possible that the introduction of a 50% bank profit tax and an increased VAT rate may be considered for the second reading of the bill in the Rada.
On August 29, the committee recommended approval of bill No. 11416-d in the first reading. The document, in particular, provides for an increase in the military tax from 1.5 to 5%; the introduction of a 1% military tax on payers of a single tax of the 3rd group; 10% of the minimum monthly wage for sole proprietors - payers of a single tax of the 1st, 2nd and 4th groups.
It also provides for an increase in the tax rate for financial institutions other than banks from 18 to 25%. The tax will be levied based on the performance of financial institutions in 2025 and later.
Monthly advance payments on corporate income tax are being introduced for taxpayers engaged in retail fuel sales (for each gas station). In particular, in the amount of UAH 60,000 when selling two or more types of fuel; UAH 30,000 when selling only liquefied gas; UAH 45,000 if the share of liquefied gas in the total volume of fuel sold during the month is 50% or more.
Higher rates are set for gas stations that simultaneously sell alcohol and tobacco. UAH 80,000 when selling two or more types of fuel; UAH 40,000 when selling only liquefied gas; UAH 60,000 if the share of gas in the total volume of fuel sold is 50% or more.
In addition, the bill provides for a change in the tax period from quarterly to monthly for submitting tax calculations of income amounts to the regulatory authorities.
Recall that the initial version of the bill, developed by the government and registered in parliament on July 18, provided, among other things, for the introduction of a military tax on luxury. In particular, 5% of the income from the sale of one property per year; 15% of the purchase price of a new car; 30% of the cost of jewelry sold; 5% of the cost of bank metals when purchased from banks. All these proposals were not included in the final version of the bill.
Also, the bill did not include provisions on increasing the bank profit tax rate to 50% and introducing a military tax on business turnover in the amount of 1%.
The final version, submitted for the first reading, did not take into account proposals to increase the VAT rate. At the same time, the relevant parliamentary committee claims that it is possible that the introduction of a 50% bank profit tax and an increased VAT rate may be considered for the second reading of the bill in the Rada.
