On 28 August 2024, the Tax Committee of the Ukrainian Parliament adopted revisions to the Ministry of Finance's proposal for a draft law to increase and expand the military (defense) tax. The revisions include that the increase in the military tax on individuals from 1.5% to 5.0% would only apply until 31 December of the year in which martial law is abolished. Further, proposed increases in the corporate income tax rate for banks and non-banking financial institutions are rejected. Details of the final law will be published once available.