Ukraine’s parliament wants to take $270m from banks with a windfall tax

In the first six months of the year, Ukrainian banks saw a record profit of UAH 67.6 billion (USD 1.84 billion). Now, the Verkhovna Rada, the parliament, wants them to pay their share with a new additional tax.

On Monday, MPs from the parliamentary financial committee, chaired by Danylo Hetmantsev, from the ruling Servant of the People party, submitted a bill proposing that banks pay an additional five percent tax on excess profits — a so-called windfall tax — to the state budget.

LIGA.net found out what bankers think about the initiative and how it might affect their customers.