Ukraine’s parliament raises taxes on currency exchange firms
They decided to increase taxes on exchangers (Photo:Oleksii Chumachenko / SOPA via Reuters)
The Verkhovna Rada, Ukraine’s parliament, passed a bill that obliges currency exchange firms to pay a fixed advance payment on their corporate income taxes, Deputy Chairman of the Parliament’s Finance Committee Yaroslav Zheleznyak has reported on Telegram messenger on Nov. 3.
The bill was backed by 249 lawmakers, he said.
According to Zheleznyak, from now on, each currency exchange firm must pay the following advance payment:
- three minimum salaries for each branch in settlements with more than 50,000 inhabitants;
- one minimum wage for each branch in settlements with less than 50,000 inhabitants.
The law will come into force on Jan. 1, 2023.
Earlier in late July, the National Bank of Ukraine strengthened regulations involving currency exchange firms and banned the use of outdoor exchange rate comparison boards.
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