The Parliament reduced taxes for individuals

20 May 2015 09:16  3999336 0100346
The Parliament reduced taxes for individuals

Verkhovna Rada of Ukraine adopted the Law "On amendments to the Tax Code of Ukraine on fair taxation of personal income in the range of 10 to 17 minimal salaries."

275 deputies voted for the bill №2576.

As noted, the law increases the tax base from 10 to 17 times the minimum wage when the rate of tax on personal income is 15%.

"The tax rate on incomes exceeding 17 times the minimum wage will be the same as it is now - 20%, and the maximum value of the base for charging the single contribution shall be defined based not on the subsistence minimum for able-bodied persons at the time of collection of charges, but on the minimum wage prescribed by law as of January 1 of the reporting year", - the press service of the Parliament informed.

In addition, the law extended the use of degression factor for determining the amount of the single contribution at 0.4 beyond January 1, 2016.

Ekonomichna Pravda

Post comment

Users posting offensive comments as to other participants of discussion will be banned by moderator without prior warning or explanation. The information related to these users may be provided to law enforcement authorities upon relevant request.Links and advertising messages are prohibited in the comments!

No comments