The Ukrainian parliament has amended the Tax Code and exempted currency exchange transactions with individuals from military tax.

An Interfax-Ukraine correspondent has reported that 249 lawmakers supported relevant draft law No. 2436.

"The currency exchange transactions are not subject to the collection of the military tax," MP Tetiana Ostrikova said.

She said that the approval of the amendment to the Tax Code on imposing military tax on currency exchange tractions on March 2, 2015 resulted in some of the market retreating into the shadows.

Ostrikova added that after the law took effect on March 13, some banks observed the law and some did not.