The Ukrainian Ministry of Finance has announced that it is to introduce a tax on interest received from bank deposits above UAH 100,000. This tax is expected to apply to only 1.5 percent of bank deposits in Ukraine but these deposits account for around 70 percent of all savings. No tax rate has yet been announced but the Ministry has pointed out that tax rates on similar income in other countries can range from 15 percent to as high as 52 percent in some cases.
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