On December 1, a law came into force that caused a flurry of discussions due to the “historic” increase in taxes. First of all, the military tax was increased to 5%, and for individual entrepreneurs (IEPs) on the simplified taxation system from group III, a new fee of 1% appeared. A fee for IEPs from groups I, II and IV was also introduced – 10% of the minimum wage.
However, not all changes came into force immediately. On December 4, the Verkhovna Rada adopted amendments that postponed the increase in taxes for IEPs until January 1, 2025, instead of the originally planned October 1, 2024. This means that entrepreneurs will have time to prepare for the new conditions.
According to MP Yaroslav Zheleznyak, the changes concern only the tax for individual entrepreneurs, while other tax innovations are already in effect.
In addition, some other important points were finalized. For example, for startups in “Diya City” the preferential personal income tax rate for employees was canceled if their number is less than nine. A control system was also introduced to prevent abuse and revised conditions for residents of Diya City regarding charitable donations to the Armed Forces of Ukraine.
Thus, entrepreneurs get a small respite, but changes still await. Preparations for new tax realities will begin in the new year, and for now you can breathe a sigh of relief.
