More taxes to return to pre-war level soon, says PM Shmyhal
Shmyhal stated that there will be no tax increase until the end of the war (Photo:Денис Шмигаль / Facebook)
The Ukrainian government is not planning to raise the tax burden until the end of the war, but will return some taxes that were previously lowered to their pre-war levels next month, the Ukrinform news agency quoted Prime Minister Denys Shmyhal as saying on July 5.
“In part, we expect that the return of taxes to the pre-war level will take place from Aug. 1 due to the adoption of the relevant law by the Verkhovna Rada (Ukraine’s parliament),” Smyhal said.
He said this concerned the simplified taxation system, allowing for a return to 5% instead of 2%, which was introduced in the first months of the war.
“We don’t plan, don’t forecast, and I’m convinced we won’t allow any other changes until the end of the war, except for a return to the pre-war level,” Shmyhal said.
“The tax system will be stabilized at the same level as before the start of full-scale aggression.”
Ukraine re-introduced fuel taxation according to pre-war rules and regulations from July 1.
VAT was reduced to 7% at the beginning of Russia’s full-scale aggression to help fill the market amid the loss of logistics chains and the halting of imports of products from Russia and Belarus.
VAT will return to 20% and excise taxes will be increased.
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