On 30 March 2022, the Ukrainian Parliament received Bill No. 7232 (Draft Law) on taxation of business entities related to economic relations with the ‘aggressor state’. Ukraine proposes corporate income tax (CIT) to be increased from 18% to 27% (factor of 1.5) for companies having business with Russia.
The increased rate will be applicable to corporate income tax (except withholding tax), environmental tax, rent, and property tax. The new tax rules will apply from the tax period that began on 1 March 2022.
