Friday, July 1 2016 20:20 EEST
Ukraine cancels tax on pensions
Ukraine, cancel, taxes, pensions, politics, economy, retirees, minimums, individuals, payments

Due to the cancellation of taxes on pension, 300,000 Ukrainian retirees will get increased pensions, the Minister of Social Policy Pavel Rozenko writes in Twitter.

'We have cancelled taxes on pensions today. Due to this, 300,000 retirees will get increased pensions,' the head of the department wrote.

On June 2, the Ukrainian Parliament approved a bill to cancel the taxes on pensions. At the same time, the payments which contain more than 10 overlaid minimums for incapacitated individuals (almost 11,000 UAH) will be taxed at the rate of 80%.

The taxes on pensions were introduced in Ukraine in 2015. They affected only those individuals who had been receiving more than 3,654 UAH.

As reported earlier by, Ukraine won’t be able to get visa-free regime with EU this summer - European Commissioner Malmström.

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