Information from Minrevenue
Main Department of Minrevenue in Kiev informs taxpayers who chose simplified system of taxation in 2014 that the minimum wage on 01.01.2014 is 1218 UAH.
Since the fixed rates of single tax are proportional to the minimum wage, in 2014 single tax rates in monetary terms are:
- For single taxpayers group 1 - 121 UAH 80 kopecks;
- For single taxpayers group 2 - 243 UAH 60 kopecks.
Lets recall that for single taxpayers of these groups in Kyiv the rate is established as of 10 % of the minimum wage defined by law as of January 1 of the tax year (taxpayers group 1) and 20% (group 2of taxpayers), respectively. According to the Tax Code of Ukraine, the rate of a single tax rate for the third group of single taxpayers is set at 3 percent of revenue - after the payment of value added tax, and 5 percent of income - if VAT is included in the single tax. For the fifth group of single taxpayers the rate is 5 percent of income – if value added tax is paid and 7 percent of income - if VAT is included in the single tax.
