Ukraine is to increase excise taxes and military duty
4 March 14:07
This year, the Ministry of Finance of Ukraine plans to take a number of measures to increase state budget revenues. In particular, it is planned to increase revenues from acetic acid and military duty, as well as to introduce monthly advance payments of income tax by fuel trading companies. This was reported by the Ministry of Finance in response to a request fromInterfax-Ukraine, Kommersant-Ukraine reports 
Thus, the Ministry of Finance is preparing a number of bills that provide for an increase in the relevant rates.
“The proposals include minimal rate increases (mainly by 0.1% to 1.5%),”
– the Ministry said in its response.
The changes in the payment of the military fee will apply to all individual entrepreneurs, as well as legal entities that pay corporate income tax and single tax payers of the third and fourth groups. In addition, the additional military duty will affect transactions with precious metals and cars, real estate, jewellery, and mobile communications.
“The proposals also envisage bringing the excise tax on fuel in line with the minimum EU standards, introducing an excise tax on water, including mineral and carbonated water, with the addition of sugar or other sweetening or flavouring substances, and expanding the list of excisable goods by imposing an excise tax on hemp plants,”
– the Ministry of Finance added.
The relevant draft laws are expected to be submitted by the end of March. These measures should bring over UAH 44 billion or 0.5% of GDP to the state budget.
Ukraine’s state budget deficit for 2024 is estimated at UAH 1.57 trillion, or 20.6% of expected GDP.
