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Ukrainian President Vetoes Individual Income Tax Amendments

21 July 2015

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Approved Changes

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Ukraine

Ukraine's President Petro Poroshenko has reportedly vetoed a law adopted by parliament in May 2015 that would have increased the upper individual income tax bracket threshold from 10 minimum salaries to 17 minimum salaries. Currently 1 minimum salary is equal to UAH 1,218, although this will increase to UAH 1,378 from 1 December 2015. The law would have also extended the 0.4 coefficient used to decrease the social security contribution for qualifying companies that meet certain minimum salary conditions and have expanded payroll from the previous year. Instead, the coefficient will be increased to 0.6 from 1 January 2016 as...