Govt raises share of social security tax for Social Insurance Fund to 14.24% in Aug

16:43, 29.07.2019 1 min read

The Cabinet of Ministers has increased the share of social security tax for the Social Insurance Fund from 9.37% to 14.24% for August 2019 by reducing the share of unemployment contribution from 5% to 0.13%, according to the government resolution on the Government Portal.

According to the document, from 2020 the share of unemployment insurance contribution will decrease from 5% to 4.8%, while the share of social insurance contributions due to temporary disability and from an accident at work will increase from 9.37% to 9.57%.

"The decision will allow the Social Insurance Fund of Ukraine to repay arrears in connection with temporary disability," the document explains.