On 19 October 2023, the Ukraine parliament approved Draft Law 9656-d in its first reading, which provides for a temporary increase in the corporate income tax rate on banks. This includes a rate of 36% during the period 1 January 2024 to 31 December 2025, which is double the standard rate of 18%. Further, banks would not be allowed to utilize losses carried forward during that period. Note that Draft Law 9656-d is an alternative to Draft Law 9656, which, as previously reported, would introduce a 5% windfall tax on interest income of banks for a period of three years...