The draft law on additional taxation of banks, the proceeds of which will go to the army, may be adopted by the Verkhovna Rada in the second reading this week.
This was stated by Olena Korobkova, Chairman of the Board of the League of Banks of Ukraine, at a press conference on “Financial Stability of the Country and Citizens”.
“Yesterday, the committee recommended to adopt in the second reading the draft law on taxation of excess profits of banks. As far as we know, this draft law will be voted on in the parliament next week,” Korobkova said.
She noted that initially the document provided for an increase in the corporate income tax rate for banks from 18% to 36%, and the banks were sympathetic to this. However, during the preparation of the draft law for the second reading, the original concept was changed, so now the taxation of excess profits of banks in 2023 would be carried out at a rate of 50%, and starting from 2024 the basic income tax rate for banks would be 25%.
“This is not very good news in retrospect,” Korobkova said. (Ukrinform/Business World Magazine)
