Espreso. Global

IMF requirement met: Zelenskyy signs bank tax law

6 December, 2023 Wednesday
15:43

On Wednesday, December 6, Ukrainian President Volodymyr Zelenskyy signed draft law No. 9656-d, addressing the additional taxation of banks

Yaroslav Zheleznyak, a People's Deputy from the Holos faction, confirmed this development.

"The President signed the draft law on the taxation of banks #9656d. This is also a requirement of the IMF," the message states.

The law stipulates that the excess profits of banks for the year 2023 will be taxed at a rate of 50%. From 2024 onward, the standard tax rate on bank profits will be 25%.

"The Ministry of Finance estimates this will generate UAH 24-25 billion in 2023 alone, followed by 6-7 billion annually," added the People's Deputy.

  • This move follows Zelenskyy's signing of the state budget law for the upcoming year on November 28, which was approved by the Verkhovna Rada on November 9.
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