97% of pensioners are not liable to tax - the Ministry of Finance

12 January 2015 09:17  2489171 090131
97% of pensioners are not liable to tax - the Ministry of Finance

The Ministry of Finance has lowered the threshold for taxation of pension benefits to three times the minimum wage.

This was written by the Minister Natalia Jaresko on her page on Facebook.

"Once again I want to draw your attention to the issue of taxation of pensions: we have lowered the threshold for taxation of pensions from 10,000 UAH to three times the minimum wage (currently it's 3,654 UAH). Not all pension will be liable to tax, only the excess over 3,654 UAH. For example, if the pension is 4,000 UAH, then 3,654 UAH is not taxable, and the remaining amount of 346 UAH is taxed at 15%," - the Minister says.

She added that in Ukraine, only 3.3% of pensioners receive pensions over 3,654 UAH, and the average pension is 1,523 UAH.

It is also important to note that the average taxable salary in Ukraine is 3,534 UAH, the average taxable salary in the health sector is 2,455 UAH, in education - 2,710 UAH.

"Thus, this measure focuses primarily on special pensions of former parliamentarians, ministers, judges and others. Approximately 97% of Ukrainian pensioners will not be taxed under this new regulation. The task of the government is to support the most vulnerable people," - Jaresko said.

97% of pensioners are not liable to tax - the Ministry of Finance (19c940a------------11.jpg.pagespeed.ce.YhvPJrg7KJkayM9JGpA6)

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