16:28 15.09.2014

Government proposes general declaration of income of individuals and one-time free tax amnesty – finance minister

1 min read

The Ukrainian government has proposed introducing a general declaration of income of individuals and a free tax amnesty, Finance Minister Oleksandr Shlapak has said.

"Paid and free amnesties are being discussed. We are offering a free one," he said, while presenting tax reform at the opening of a government meeting in Kyiv on Monday.

At the same time, he noted that it was proposed to introduce a new progressive scale of personal income tax: 20% from income ranging from UAH 500,000 to UAH 1 million and 25% from income exceeding UAH 1 million instead of the current 15% from income of up to ten minimum wages and 17% from income exceeding ten minimum wages (currently standing at UAH 12,180 per month and UAH 146,156 per year).

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