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15% tax on pensions exceeding three minimum wages to be revoked in Ukraine

15% tax on pensions exceeding three minimum wages to be revoked in UkraineThe Verkhovna Rada has passed at first reading a bill amending the Tax Code of Ukraine regarding pension tax exemption. 307 lawmakers backed bill No. 4542 at a session on Thursday.

"This bill envisages revoking taxation of small and very large pensions. We will revise the bill for second reading to ensure fairness, and include the tax super-large pensions," the head of the parliamentary tax committee MP Nina Yuzhanina said.

Parliament backed the initiative to revise the bill for second reading using the expedited procedure. Yuzhanina said that the measure would be revised within 10 days.

Read also: Ukrainian parlament returns abolished earlier order for pension calculation

Some lawmakers also spoke for revoking the pension tax for working pensioners.

The measure passed at first reading provides for imposing a 15% tax rate on pensions exceeding three minimum living wages set as of January 1.
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