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Parliament adopted the new Law on determining the base amount for Personal Income Tax and Unified Social Contribution
![alt](http://www.usubc.org/images/members/pwc.jpg)
Wed, May 20, 2015
On 19 May 2015, Parliament adoptedthe new Law* on determining the base amount for Personal Income Tax and UnifiedSocial Contribution.
The key changes are the following:
• Income subject to 15% personal income tax will be applied to 17minimum salaries, instead of the current 10 minimum salaries.
• Personal income which exceeds 17 minimum salaries is taxed atthe 20% rate.
• The coefficient for USC calculations, which will come into forceon 1 January 2016, was reduced from 0.6 to 0.4.
The Law is effective starting from the first day of the month following themonth when the Law is published.
*The draftLaw "On Changes to the Tax Code of Ukraine regarding the fair taxation ofpersonal income between 10 and 17 minimum salaries", dated 07 April 2015(Reg. No. 2576).
Contacts:
Slava Vlasov, Partner, Tax and Legal Services, slava.vlasov@ua.pwc.com
Yury Zakharchenko, Manager,Tax and Legal Services, yury.zakharchenko@ua.pwc.com
Kristina Kochetkova,Manager, Tax and Legal Services, kristina.kochetkova@ua.pwc.com