The Verkhovna Rada sent the draft law on raising taxes for a repeated first reading

The Verkhovna Rada (the Ukrainian Parliament) did not support draft law No. 11416-d on increasing taxes. It was sent for a repeat first reading.

The MP from "Voice" Yaroslav Zheleznyak reported this.

There were 224 MPs in favor, and two votes were contra. In general, it is expected that the adoption of this draft law will bring 30 billion hryvnias to the budget this year and 126 billion hryvnias in 2025.

The draft law provides for an increase in the rate of military duty from 1.5 to 5%, the establishment of a military duty in the amount of 1% of income for private enterpreneurs — payers of the uniform tax of the III group, as well as the establishment of a military duty for private enterpreneurs — payers of the uniform tax of the I, II and IV groups on equal to 10% of the minimum wage.

The established features of taxation by the military levy will be in effect until December 31 of the year in which martial law will be abolished.

The project also proposes to set corporate income tax rates for non-bank financial institutions (except insurers) at 25%.

Previously, this draft law was supported by the Verkhovna Radaʼs Committee on Finance.

• On July 18, the Cabinet of Ministers approved two draft laws: the first — on changes to the Tax Code to finance additional military expenditures, the second — on changes to the state budget to increase military expenditures. The government estimates additional critical needs at 500.3 billion hryvnias, including 495.3 billion hryvnias for defense.
• A number of businessmen sharply criticized the project on raising taxes. MPs promised to finalize the project, but in general, raising taxes cannot be avoided.