NBU, Finance Ministry oppose 50% taxation of bank profits – MP

12:16, 28.08.2024 1 min read

The National Bank of Ukraine (NBU) and the Ministry of Finance opposed raising the tax on bank profits in 2024 from 25% to 50%, as envisaged by the revised government bill on raising taxes (No. 11416), deputy head of the parliamentary committee Yaroslav Zhelezniak said.

"The Ministry of Finance openly opposed raising the tax on banks to 50%. Firstly, the IMF is against. Secondly, they say that then there is a risk [of not achieving the planned level] of domestic borrowing… Well, the National Bank also opposed it. They noted that this is a risk of additional capitalization of state-owned banks," he wrote on the Telegram channel on Wednesday.

The MP agreed with the objections of the NBU and the Ministry of Finance and informed about the removal of this provision in the bill.

As reported, the deputy head of the parliamentary committee on Monday published revised government bill No. 11416, which provided for an increase in the tax on bank profits in 2024 from 25% to 50% and on the profits of financial companies from 18% to 25%, as well as the submission of monthly reports on personal income tax.