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HomeWorldHistoric Tax Increase Bill
October 4, 2024

Historic Tax Increase Bill

By David
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    The relevant committee of the Verkhovna Rada supported bill No. 11416d on a historic increase in taxes for the second reading.

    .

    19 deputies voted for the corresponding decision, one was against, and three more abstained. People’s Deputy Yaroslav Zheleznyak announced this today, October 4, in his Telegram channel.

    According to the people’s deputy, the bill currently provides for the following changes:

    • increase in military duty from 1.5 to 5%;
    • introduction of military tax for individual entrepreneurs;
    • 50% tax on banks;
    • increase in MNS for lands;
    • 25% state of emergency for financial companies;
    • exemption of cashback from taxation;
    • transition to monthly personal income tax reporting;
    • increase in rent for crushed stone mining.

    The government refused to postpone until November 1 or partially replace the VAT increase,” Zheleznyak noted.

    According to him, the hearing in the courtroom is expected next week. In this case, the law will be signed in the second half of October, but some of the norms will come into force retroactively – on October 1.

    Source: Racurs

    David
    David

    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.

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