The increase in bank profits tax from 18% to 50% in 2023 and 25% in subsequent years could entail an increase in lending rates by financial institutions and a decrease in deposit rates to ensure stable profitability in the new tax environment, he said President of the Association of Ukrainian Banks (AUB) Andriy Dubas.
“I think banks will analyze the current situation and shape their business model and activities so that they continue to be profitable,” he said.
Regarding the association’s position regarding the adopted law, he said: “In times of war, the volume of taxes may increase, but in our opinion it is not very correct to tax the previous period.”
Dubas also pointed out that the association supports the introduction of additional taxation only for a limited period.
The Chairman of the Board of Raiffeisen Bank, Oleksandr Pysaruk, emphasized, that the law to increase the banks’ income tax was passed without any discussion with the banks. He added that it was discriminatory and would have long-term negative consequences for the investment and business climate in Ukraine.
2023-11-28 07:05:07
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