Tax on depositі decrease to 5%
Reduce tax rates on bank deposits and in the same time increase revenue from income from marketable securities was offered in the Parliament.
The government argued that such decision must restore confidence in deposits in Ukrainian banks. However, experts say that innovations will reduce the profitability of the stock market. Alexandra Kuzhel has prepared a draft law “On Amendments to Article 167 of the Tax Code of Ukraine regarding the settlement of the rates of income tax in the form of interest on current or deposit bank account and dividends on shares and corporate law, providing inflow cash in banks »(№ 2440). Deputy stated that, under the current version of the Tax Code of Ukraine receives 20% of the interest on deposits. As a result of the tax, there were a decrease in the share of deposit in the banking system. Because the project is invited to adopt, tax deposits will reach 5% level. The document specifies an increase in tax revenue from dividends on shares and corporate rights from the current 5 to 15%