President Volodymyr Zelensky has signed Law No. 9656-d on bank profit tax. This is reported on the website of the Verkhovna Rada.
The law was adopted at the request of the International Monetary Fund, the National Bank and the Ministry of Finance.
The rate is raised to 50% and will be used to tax bank profits for 2023. Starting from 2024, the basic corporate income tax rate for banks will be 25%. The regular corporate income tax rate in Ukraine is 18%.
It is expected that the tax increase will bring 24-25 billion UAH in 2023, and 6-7 billion in the following years.
In the first three quarters of 2023, Ukrainian banks earned UAH 110 billion in net profit.