Continuation for 2027 of the application for banks of the increased corporate income tax rate was supported by 303 people's deputies / photo ua.depositphotos.comThe Verkhovna Rada of Ukraine adopted as a whole the draft law on extending for 2027 the application for banks of the increased corporate income tax rate at 50%.
As reported by a UNIAN correspondent, 303 people's deputies voted for the adoption in the second reading of the draft law on amendments to the Tax Code of Ukraine regarding the specifics of taxing banks with corporate income tax (No. 15262).
The draft law proposes to extend for 2027 the application for banks of the increased corporate income tax rate at 50% with a simultaneous prohibition on reducing the financial result before taxation by the amount of losses of previous periods.
The explanatory note states that during 2023-2024 and 2026, the introduction of additional taxation of banks was one of the additional sources for ensuring financing of growing military expenditures.
"The purpose of the draft law is to create conditions for proper filling of the revenue part of the State Budget of Ukraine for 2027 through additional revenues from corporate income tax, which will be temporarily paid by banks at the increased rate," the document says.
Tax on banks' excess profits - top news
In 2023, the Verkhovna Rada adopted a law on taxation of banks' excess profits, which provided that the corporate income tax for banks for 2023 would be 50%, and in subsequent years, starting from 2024, 25%. This happened due to the increase in banks' profits during the war, as in 2023 banks in Ukraine received UAH 159.99 billion in profit before taxation, which is almost twice as much as in 2021.
In December 2025, the Rada adopted a law on raising taxes for banks, according to which for 2026 an increased corporate income tax rate at 50% was established for banks with a simultaneous prohibition on reducing the financial result before taxation by the amount of losses of previous periods.