Ukrainians can become the object of a new tax event announced by the government. The National Income Strategy provides taxation from card to card at 18%. This means that each transaction conducted on a bank card will be subject to tax.
Anatoly Amelin, Director of Economic Programs of the Ukrainian Institute of the Future Analytical Center, reported it in his message. The new initiative has become part of a broader income strategy that covers all incomes of individuals obtained outside business.
According to the text of the document, "all incomes of individuals obtained outside of business activity, except those expressly provided by the Tax Code of Ukraine, will be subject to taxation at the total rate of personal income tax."
Economist Oleg Pendzin explained that the idea of taxation of transfers is not new, but until now the tax service has not had access to citizens' accounts. Now the authorities are planning to provide the tax authorities with access to the personal accounts of Ukrainians, violating banking secrecy.
It is unclear how the taxation of each card transaction will be carried out, but this new initiative creates the issue of privacy and control over the financial transactions of citizens.
