Ukraine proposes tax incentives for individual investors through personal investment accounts
On 14 September 2023, a draft law was registered proposing amendments to the Tax Code of Ukraine and other laws to introduce personal investment accounts exempt from profit tax. This initiative aims to encourage individual investments and support national financial agents by allowing investment in Ukrainian securities without taxation on returns under certain conditions.
The bill, initiated by Ivanenko Ivan Ivanovich and Petrov Petro Petrovich, envisages that investors can deposit funds into these accounts for a 5-year period, investing in domestic securities tax-free if the funds are not withdrawn early. This mechanism is designed to foster development of the stock market and strengthen public confidence in the national financial system.
It is expected that passing this law will stimulate private investors’ participation in Ukraine’s financial markets, which should positively affect economic growth and the stability of the national currency.
