The Ministry of Finance initiates introduction of the tax on the withdrawn capital instead of the profit tax

So, the relevant document proposes to replace the profit tax - the tax on the withdrawn capital, which provides for the taxation of distributed dividends or equivalent payments.

In this case, there will be a complete waiver of the tax on repatriation.

The press service also says that the tax rate on the withdrawn capital will be 15% when dividends are paid to the legal entity - non-resident or physical person.

Nevertheless, for the payments compared with dividends, the rate will be 20%.

By the way, the draft law also assumes that the banking sector will remain a payer of the profit tax until 2020 inclusive.

Recall, as previously reported, "URA-Inform", the International Monetary Fund may decide to allocate Ukraine next tranche until the end of summer.