Shmyhal: the law on tax increase will come into force on December 1
27 November 22:53
The laws on the state budget for 2025 and on amendments to the Tax Code will be signed in the coming days. They will come into force on December 1. This was stated by Prime Minister Denys Shmyhal during a telethon, Komersant ukrainskyi reports
According to him, the government has already appealed to the president to sign these laws as soon as possible.
“The government has already appealed to the president to sign these laws as soon as possible. They are one of the key requirements of our creditors. They are important for providing funds for all expenditure items for the defense of our state this year and next,” the Prime Minister said.
Shmyhal added that after signing these laws, the Cabinet of Ministers will receive additional resources for the purchase of weapons, ammunition and salaries for the Security and Defense Forces.
At the same time, Shmyhal emphasized that the amendments to the Tax Code will come into force no earlier than December 1.
“This is a very important point that we have discussed with both parliamentarians and the president. It means that there will be no retroactive entry into force. After signing the law, the parliament will adopt an amendment that will make all the provisions of this law come into force no earlier than December 1, 2024,” the Prime Minister said.
In his evening address, President of Ukraine Volodymyr Zelenskyy promised to sign the law on the State Budget-2025 tomorrow, November 28.
“Today I held a meeting with Prime Minister Denys Shmyhal, Finance Minister Marchenko, and representatives of the Verkhovna Rada. We discussed the main parameters of the state budget for the next year, our financial readiness for this December and the next year. We agreed that tomorrow I will sign the law on the state budget for the next year as soon as the law comes from the Verkhovna Rada. The main thing is that all the financial needs of Ukraine for the near future and for the next year are guaranteed,” Zelensky said.
Zelensky did not mention the draft law that provides for tax increases in his evening address.
As a reminder, on October 10, the Verkhovna Rada passed draft law No. 11416-d on tax increases.
The provisions of the draft law on tax increases:
- for all but military personnel, the military tax increases from 1.5% to 5% of income;
- for private entrepreneurs of the third group, the military tax is set at 1% of income;
- taxes for the 1st and 2nd groups of individual entrepreneurs are increased;
- banks are expected to pay 50% of this year’s profit;
- the MPZ for land is increased;
- 25% income tax for financial companies;
- monthly PIT reporting is introduced (starting from January 2025);
- the rent for the extraction of crushed stone is increased;
- cashback is exempt from taxation.
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The law is expected to enter into force on October 20, but some taxes will have to be paid retroactively.
Earlier, 
analyzed why Ukraine decided to raise taxes and what the consequences might be.
