The Cabinet of Ministers of Ukraine has proposed raising excise tax, royalty for subsoil use and environmental tax.
Corresponding bill No. 6776 on amendments to the Tax Code of Ukraine to review the rates of some taxes was registered in the parliament on July 20 and sent to the profile committee, the Verkhovna Rada website reported.
According to an explanatory note to the draft law, the Cabinet intends from January 1, 2018 to raise excise tax on alcohol and tobacco products by 11.2%. The government proposes increasing royalty for subsoil use for purposes not related to mining, water use and rent for forest use by 16.8%.
According to the document, the reason for raising these taxes was the inflation growth by 11.2% projected for 2017 and the rise in industrial products prices by 16.8%.
As reported, the government approved the corresponding bill at a meeting on July 19.
