The committee supported the draft law on tax increases for the second reading

The Committee on Finance, Tax and Customs Policy of the Verkhovna Rada supported the second reading of draft law No. 11416-d on increasing taxes.

The MP from "Voice" and deputy chairman of the committee Yaroslav Zheleznyak informed about this.

19 MPs voted for, three abstained and one was against.

The draft law provides for:

• increase in military levy from 1.5% to 5%;
• introduction of military duty for private enterpreneurs;
• 50% tax on excess profits of banks;
• increase in the minimum tax liability for land;
• 25% income tax for financial companies;
• exemption of cashback from taxation;
• transition to monthly income tax reporting;
• increase in the rent for mining crushed stone.

The MP added that the government refused to postpone the project to November 1 or partially replace it with an increase in VAT.

"Consideration in the hall next week, it will be signed already in the second half of October, but part of the norms will enter retroactively, from October 1," he noted.

Tax changes should yield UAH 58 billion in 2024 and UAH 137 billion in 2025.

• In the first reading, the draft law on increasing taxes was voted on on September 17.

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