On July 17, the Cabinet of Ministers approved a bill proposing to increase certain taxes.
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As the government representative in the Rada Taras Melnychuk reported, the issue is about finding additional budget revenues through the following taxes and fees:
- the military tax shall be increased from 1.5% to 5% and shall be extended to sole proprietors. For the first, second and fourth groups the rate shall be 5% based on two minimum wages, for the third group – 1% of income.
- establish a military tax for legal entities in the amount of 1% of income from any activity (for income tax payers and single tax payers of the third and fourth groups).
- introduce separate rates of military tax on the sale of jewelry (30%), the purchase of bank metals (5%), the purchase of vehicles subject to initial state registration (15%), and the provision of mobile services (5%).
- introduce VAT on imported parcels in the amount of up to 150 euros (except for postal items worth up to 45 euros if they are sent to the recipient without payment and are not intended for sale).
- introduce an excise tax on mineral and carbonated waters with added sugar and other sweetening or flavoring substances at a rate of 0.1 euro per liter.
- introduce monthly advance payments of income tax for taxpayers engaged in retail trade in fuel. They will amount to 0.5 minimum wages per cubic meter of fuel storage tanks.
According to MP Yaroslav Zheleznyak, the adoption of the bill should bring the state 140 billion UAH.
Source: Racurs
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.