The Verkhovna Rada has passed bill No. 11416-d amending Ukraine's Tax Code, introducing new taxation measures during martial law. Starting October 1, this law increases the military tax from 1.5% to 5%, raises the corporate tax on banks' profits to 50% for 2024, and increases a range of other taxes and fees.

As reported by MP Oleksiy Honcharenko, 247 MPs voted in favor of the bill, surpassing the 226 required votes.

Specifically, 192 MPs from the Servant of the People party supported the bill, along with 18 from the Platform for Life and Peace, 15 from Dovira, 13 from Restoration of Ukraine, 4 from For the Future, and 1 from Holos. In contrast, 40 MPs voted against the bill.

A clause was added during the discussion, ensuring that the military tax increase does not apply to military personnel's salaries.

However, MPs did not approve amendment No. 988 by the head of the relevant parliamentary committee, Danylo Hetmantsev, regarding the military tax, as it received only 219 votes.

"I wouldn't say the tax law has been fully passed… To clarify, this amendment constitutes half of the law – it's physically written on 10 pages of A4 paper. So, I feel like we may need to revote on this law just to get things in order," said Yaroslav Zhelezniak, the first deputy head of the committee and a member of the Holos parliamentary faction.

He added that other amendments were adopted during the hearings, effectively eliminating the notary’s role as a tax agent when certifying sale and exchange contracts between individuals.

The bill also proposed extending the military tax to individual entrepreneurs at a rate of 1% of turnover for Group III taxpayers and 10% of the minimum wage (currently UAH 800) for Groups I, II, and IV. Additionally, it includes raising the corporate tax on bank profits to 50% for 2024 and increasing the tax on financial institutions' profits (excluding insurers) from 18% to 25% starting in 2025.

Other new provisions include advance payments on fuel station profits, linking currency exchange office tax rates to the euro, increasing minimum tax obligations for agricultural land, raising royalty for gravel extraction, and increasing wholesale and retail alcohol prices by 50%. At the same time, funds received under the national cashback program will be exempt from taxation.

From January 1, 2025, a shift from quarterly to monthly income tax reporting for individuals will also be introduced.