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Tax law changes in 2022: everyone will pay

On 30 November the Ukrainian Parliament adopted a new Law “On the amendments to the Tax Code of Ukraine and other laws regarding the balanced budget income” (No 5600). The main goal of this law is to make big businesses pay income taxes.

The Minister of Finances Sergiy Malchenko said that this law will not change anything for small and medium businesses. Also those who use the state support programs of “Accessible loans 5-7-9%” and “Accessible mortgage” will be exempt from the income tax.

However, this law imposes the minimum tax obligations, which means the following novelties:

  • Taxes on state and communal land - 1 400 UAH/hectare

  • 18% income tax on agricultural sales which are bigger than 12 minimum salaries

  • Second property sale tax per calendar year - 5%, third and more property sales per calendar year - 18% tax

Furthermore, the tax office will start notifying the local authorities about the natural persons who have debts (now it does so only regarding the legal persons).

Poultry producers are exempted from income tax, but this does not include chicken producers.

All in all, even more rules are being added to the already very complicated Ukrainian tax law. Make sure your accountant follows the changes.

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