Consequences of signing the law on increasing taxes in Ukraine — Ukraine

At the end of November, the President of Ukraine, Volodymyr Zelenskyi, signed the law on raising taxes.

New changes in the tax legislation foresee an increase in taxes for individuals and entrepreneurs. The military levy became five percent instead of one and a half percent.

After the president signed this law, mass closures of individual entrepreneurs were recorded in Ukraine. However, the head of the parliamentary committee on finance, tax and customs policy, Danylo Hetmantsev, denies this.

Read more in TSN.ua.

“Historical increase”

Zelenskyi signed the law on the historic tax increase on November 28, and it came into effect the next day.

The main changes in the tax code:

• the military levy rate increased from 1.5% to 5% for all incomes of citizens. The decision is part of the government's efforts to fund…