Hetmantsev's office approves bill on tax increase

The Tax Committee of the Verkhovna Rada of Ukraine recommended the adoption of the resource draft law No. 11416-d (prepared in a new version for the repeated first reading), which provides for:

1) increase of the military duty (MD) for the period until December 31 of the year in which the martial law will be terminated, namely:

► increase of the rate from 1.5% to 5%;

► setting the military tax at 1% of the income of single tax payers of the third group;

► setting the CPT for individual entrepreneurs - single tax payers of groups I, II and IV at 10% of the minimum wage;

2) setting the corporate income tax rate for banks at 50% for 2024;

3) setting the corporate income tax rate for non-bank financial institutions (except for insurers) at 25%;

4) improving the proposed model for determining the amount of advance corporate income tax payments for gas stations;

5) change of the tax period from quarterly to monthly for reporting on income paid to individuals (for economic booking);

6) instructing the Cabinet of Ministers to develop a draft law on amendments to the Budget Code of Ukraine regarding the transfer of military fees to the special fund of the State Budget in order to use them for the needs of financial support of the security and defense sector.