It seems Ukrainian banks are not yet likely to see relief from tax pressure. The Verkhovna Rada has decided to extend their 50% profit tax rate into 2027. On Tuesday, 27 October, members of parliament voted in favour of draft law No.15262 at first reading — 265 deputies voted “yes”.
This was reported by Yaroslav Zheleznyak, the first deputy chair of the tax committee.
However, the matter is not settled. A second reading and possible amendments from deputies are ahead. The new rules will take effect only after the bill completes all parliamentary procedures and receives the President’s signature.
Why 50%, and why again?
Banks are already operating under the higher rate — in 2026 they are already handing half of their taxable profit to the state budget. For now, the provision is simply being extended for another year.
To put it in perspective: ordinary Ukrainian businesses pay 18%. But the rules are very different for the banking sector.
The reason is plain and harsh — money for the war. The state needs additional resources for defence, security and financing martial law, so the government and parliament are again turning to the most profitable sector of the economy.
Important clarification: the 50% is applied to net profit calculated under tax rules. That does not mean the state takes half of all a bank’s funds. Deposits, loans issued or ordinary card transfers are not subject to this taxation at all.
A temporary ban on past losses
Draft law No.15262 touches on another sensitive issue for banks — the ability to write off losses from previous years.
Normally, companies can reduce current taxable profit by offsetting previous financial losses. But for banks this “option” was temporarily paused, and now the pause is proposed to be extended until the end of 2027.
If the bill is adopted in full, the picture will look like this:
- Tax rate — remains 50%.
- Past losses — writing them off to reduce taxes is prohibited.
- Return to the normal regime — not expected before 1 January 2028.
How much will this bring to the state?
We’re talking about colossal sums. The draft state budget for 2027 already includes estimated receipts from banks.
According to preliminary estimates, in the first three quarters of 2027 alone the financial sector is expected to replenish the treasury by UAH 38.5 billion.
Of course, this is only an estimate. The final figure will entirely depend on how much banks actually earn during the year: if profits are higher — the budget will receive more; if the market shrinks — receipts will fall as well.
What does this mean for ordinary Ukrainians?
Many people will understandably ask: will banks pass their tax burden on to customers through new fees or higher interest rates?
The short answer is no — there will be no automatic rise in the cost of services. Draft law No.15262 contains no requirements to raise loan rates or introduce new fees for deposits.
Of course, when a bank hands over a large share of its profit to the state, it has less money for internal development, dividends or covering risks. So banks will certainly factor these constraints into their business plans.
- What will happen to loans? There is no direct impact. The cost of borrowing depends primarily on the National Bank of Ukraine’s (NBU) key policy rate, repayment risks and the overall economic situation, rather than on the profit tax.
- What will happen to deposits? No surprises here either. Interest rates on deposits will be set by banks themselves, according to their need to attract customers’ funds.
Background and what comes next
The tax “rollercoaster” for banks has been going on for more than a year. In 2023 a 50% profit tax was introduced for them for the first time; in 2024 the rules were adjusted; and in 2026 the 50% rate was reinstated. Now the story is simply being extended.
Recall that draft law No.15262 was registered on 20 May 2026 at the initiative of the chair of the tax committee, Danylo Hetmantsev, and a group of deputies. In June the bill passed the committee, and on 27 October it cleared the first reading.
Now the bill faces preparation for a second reading, where heated debates and amendments are possible. The final terms for banks in 2027 can only be discussed after the final vote in the chamber and the President’s signature.
