Ukrainians Will Have Their Salaries Cut for October Due to New Taxes.

Adoption of a New Law on Tax Increases

The Verkhovna Rada of Ukraine plans to adopt a new law on tax increases, which may come into effect this month. The peculiarity of this bill is its retroactive application, which will directly affect the salaries of Ukrainians already in October.

Yaroslav Zheleznyak, a member of parliament and the first deputy chairman of the Verkhovna Rada Committee on Tax Policy, announced this.

"Until October 15, the advance will be paid with the current collection of 1.5%. After October 15, the tax for October, including the advance, will be 5%," he explained.

Zheleznyak noted that the Ministry of Finance proposes to retain the advance amount when paying salaries. This approach will lead to Ukrainians feeling a reduction in their salaries not only by 3.5% due to the increase in the military levy but also by the amount of the advance that has already been paid previously. This means that in October, working citizens of Ukraine will receive a smaller amount of money than usual.

In addition, starting from January 1, 2025, Ukrainian entrepreneurs (individual entrepreneurs) will face significant changes in taxation.