On July 18, the Cabinet of Ministers approved a draft amendment to the Tax Code, which aims to increase tax revenues to the state budget in 2024 by a total of 138.7 billion hryvnias

The Ministry of Finance notes that the first stage of gradually aligning excise rates with the minimum standards in the EU will provide an additional 16.9 billion UAH in revenues to the state budget. In particular, the revision of excises from September 1, 2024, on tobacco will provide an additional 3.8 billion UAH, and excises on fuel - 9.8 billion UAH.

Specifically, the amendments include:

• increasing the military levy rate for individuals from 1.5% to 5.0%;
• introducing a military levy for legal entities under both general and simplified tax systems at 1% of income;
• introducing a military levy for individual entrepreneurs in groups 1, 2, and 4 at 5% of two minimum wages, and for group 3 - 1% of income.

Additionally, the introduction of a military levy on specific transactions is envisaged:

• A 5% military levy on the value of banking metals when purchased from banks;
• A 5% military levy on income from the sale of one real estate object per year;
• Mobile operators must pay a 5% military levy on the cost of mobile communication services;
• A 15% military levy on the value of passenger cars during the first registration (excluding cases of providing passenger cars to persons with disabilities according to the legislation).

Moreover, enterprises, institutions, organizations, and individual entrepreneurs who sell jewelry must pay a 30% military levy on the value of the sold jewelry.

There is also a requirement for monthly advance payments of corporate income tax by taxpayers engaged in retail fuel trade.

Import VAT taxation on goods worth up to 150 euros is introduced. However, imported goods with a total value not exceeding 45 euros per individual recipient will not be taxed.