The tax increase law will take effect in December: let's chalk this up to a typographical error.

The head of the tax committee of the Verkhovna Rada, Daniil Getmantsev, stated this.

Following the signing by President Volodymyr Zelensky of the tax increase law on November 28, it was immediately published in “Holos Ukrainy”, which meant it automatically came into effect.

As explained by MP Yaroslav Zheleznyak, this meant that during the 28 days of November, one tax rate (1.5% military levy) was in effect, while the remaining 2 days had a rate of 5%.

“Sleepless nights yield results — the resource law will take effect on December 1, 2024. It will be published accordingly on November 30. Common sense has prevailed. Let’s consider this a ‘printer’s error’,” Getmantsev stated.

More on the tax increase

In October, the law was supported in general by the deputies of the parliament. Subsequently, the parliament rejected all 13 resolutions that attempted to block the tax increase bill.

The law includes, in particular:

• an increase in the military levy rate from 1.5% to 5%;
• an increase in taxes for groups 1, 2, and 4 of individual entrepreneurs — a military levy of 10% of the minimum wage set on the 1st of the reporting month is introduced;
• a 1% tax on income for group 3 individual entrepreneurs as a military levy;
• a 25% profit tax for non-banking financial institutions (excluding insurers);
• the introduction of advance payments for gas stations;
• monthly reporting for personal income tax (PIT).

At the same time, the deputies rejected the amendment to raise the military levy for military personnel — it will remain at 1.5% instead of the proposed 5%.