On August 1, a new law was adopted, according to which now citizens of Ukraine will pay taxes on income they receive from deposits, as well as other financial accounts. Financiers say that depositors will not have to take unnecessary actions - banks will do everything for them on their own. But you shouldn't count on an increase in interest rates either.
What does this actually mean for the client? This means that if you have deposits such as those on http://minfin.com.ua/deposits/, and they give you a profit, then now you will be obliged to return 15 percent of this profit to the state. This rate applies to all deposits without exception, neither the amount of the deposit, nor the funds that you receive on it matter.
Experts say that such an innovation is a reasonable solution that eliminates the temptation for fraud. Previously, small deposits were not subject to taxation, and therefore large ones tried to avoid or minimize it. Now, there will be a level playing field for everyone.
There is one more important point worth noting. The entire operation of allocating 15 percent to the state budget is carried out by the bank, and at the same time no data of the owners of these deposits is indicated anywhere. The depositor himself is not at all obliged to declare his income on the deposit. Market participants are ready to guarantee complete security of personal data of their depositors.
Banks will transfer income to the state budget on a monthly basis. In case of early withdrawal of funds on a deposit, tax deductions will be revised. Then the bank will recalculate and return the withheld amount to the depositor.
In fact, banks are trying to minimize the negative side of this issue, but still depositors will now lose part of their income. At the same time, banks do not intend to raise deposit rates to make them more attractive. This is explained by the fact that the exchange rate, the current values of which can be viewed by reference , has now changed not in our favor, and therefore the price of money and it is too high on the market.
According to analysts, today in Ukraine, deposit rates are already quite high, which makes loans practically inaccessible to the population. (As you know, the cost of loans is calculated based on the value of deposits.)
However, we should expect that some banks will still be ready to offer higher rates due to lack of funds in the market.
