Ukraine's Parliament passes law to encourage charitable giving
The Verkhovna Rada has passed, in both its first and final readings, a revised bill No. 12328-d aimed at encouraging charitable giving during martial law, announced the head of the parliamentary committee on finance, taxation, and customs policy, Danylo Hetmantsev, on his Telegram channel on Tuesday.
According to his first deputy, Yaroslav Zhelezniak (Holos parliamentary faction), the bill was supported by 266 members of parliament during Tuesday's plenary session.
Hetmantsev noted that the bill provides incentives for charitable donations to benefit charitable organizations and individuals affected by Russian military aggression during the period of martial law.
The bill proposes allowing corporate taxpayers to exclude charitable donations made to charitable organizations from taxable profit, up to 8% of the taxable profit from the previous reporting year (currently limited to 4%).
Additionally, the bill seeks to equalize tax treatment for personal income tax (PIT) on charitable assistance, whether provided in cash or in-kind.
As previously reported, on February 20, the Rada's finance committee recommended that parliament adopt the revised bill No. 12328-d to promote charitable giving during martial law.