Business news from Ukraine

Ukrainian parliament approves in 1st reading doubling of bank profit tax

19 October , 2023  

The Verkhovna Rada on Friday adopted in the first reading the finalized bill (#9656d) on temporary doubling – up to 36% in 2024-2025. – rate of tax on profits of banks.
According to the first deputy head of the relevant committee, a member of the faction “Golos” Yaroslav Zheleznyak, 247 people’s deputies voted in favor with the required minimum of 226 votes.
He specified that the bill also prohibits for this period the crediting of profits against the losses of previous periods.
“In the budget of 2024, the adoption of this law is laid down as +9.9 billion UAH”, – reminded Zheleznyak.
According to the National Bank, the net profit of 64 operating Ukrainian banks for the first eight months of this year amounted to 95.1 billion UAH, profit tax – 17.0 billion UAH, including PrivatBank – 39.2 billion UAH and 9.0 billion UAH, and four other state banks – 20.6 billion UAH and 0.4 billion UAH.

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