The Ukrainian government will increase military duty and excise taxes. The search for additional state budget revenues for 2024 includes measures to increase revenues from the military, excise taxes and the introduction of monthly payment of advance contributions for income tax by enterprises operating in the retail trade of fuel.
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Interfax-Ukraine was informed about this by the press service of the Ministry of Finance.
The proposals include minimal rate increases (mostly at a level of 0.1% to 1.5%), the ministry said in its response to the agency’s request.
The Ministry of Finance recalled that in December 2023, representatives of the Ukrainian government and IMF experts formed a working group to develop proposals for short-term measures to increase income in 2024. These measures will provide additional revenues this year of at least 0.5% of GDP, or UAH 44.2 billion.
It is clarified that changes in the payment of military duty will apply to legal entities, corporate income tax payers and single tax payers of the third and fourth groups, as well as individual entrepreneurs, single tax payers of the first, second, third and fourth groups.
In addition, the additional military levy is expected to affect:
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buyers of banking metals from banks and cars subject to the first state registration in Ukraine,
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real estate sellers,
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retailers of gold, platinum and precious stone jewelry,
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cellular operators providing any mobile communication services.
Proposals also include bringing the excise tax on fuel into line with minimum EU standards, introducing an excise tax on waters, including mineral and carbonated waters, with added sugar or other sweetening or flavoring substances, the Ministry of Finance added.
It is expected that the relevant bills will be submitted to the Cabinet of Ministers and considered by the Verkhovna Rada by the end of the first quarter of 2024.
Source: Racurs
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