The rate will remain in effect until the end of 2027 along with a ban on carrying forward old losses
The Verkhovna Rada has adopted in the second reading draft law No. 15262, which extends the 50% increased income tax rate for banks until the end of 2027. A total of 303 MPs voted in favor of the bill. This was reported by Economichna Pravda, according to the portal PromPolitInform.
The regulatory act adopted by the parliamentarians ensures the maintenance of an increased tax level for the banking sector for an additional period. Earlier, the relevant committee on finance, tax, and customs policy supported this initiative and recommended that the session hall vote for its adoption.
Restrictions on financial results
In addition to extending the high tax rate, lawmakers introduced further restrictions. Financial institutions are prohibited from reducing their tax base by using losses incurred in previous years.
These restrictions will remain in effect until December 31, 2027. Returning to the practice of accounting for past losses when calculating tax liabilities will only become possible starting from 2028.
Legislative stages
The initial approval of draft law No. 15262 in the Verkhovna Rada took place in late October, when the document was supported in the first reading. The final vote concluded the process of approving the increased fiscal burden on the profits of banking institutions.
Photo: Economichna Pravda
