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In 2024, the Law on the State Budget provides for the following amounts of minimum wages:
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in the monthly amount: from January 1 – UAH 7,100, from April 1 – UAH 8,000;
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hourly rate: from January 1 – UAH 42.6, from April 1 – UAH 48.
That is, from April 1, first of all, we expect an increase in the salary of employees.
How much do you need to pay taxes from the “minimum”?
From April 1, 2024:
Rate – 8000 hryvnias
Personal income tax – 8000 x 18% = 1440 UAH
VZ – 8000 x 1.5% = UAH 120
EUV – 8000 x 22% = 1760 hryvnias
Maintenance: UAH 1,560 (PIT + tax)
That is, for one employee: the rate is UAH 8,000 (of which personal income tax (UAH 1,440) + military tax (UAH 120)) + EUV 1,760 UAH = UAH 9,760
To be paid “in hand” to the employee: UAH 6,440/month.
What else will this indicator affect?
The EUV for FOP will increase from UAH 1,562 to UAH 1,760.
The maximum basis for calculation of the EUS is 15 times the minimum salary, so in 2024 it is:
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January – March: UAH 106,500;
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April – December: UAH 120,000.
Therefore, from April 1, the maximum amount of social insurance paid by the FOP will be UAH 26,400 (8,000 x 15 x 22%).
Where can an entrepreneur look for legal clarification and reference information? LIGA360 will provide all the answers. Learn from experts about martial law innovations and important news for Ukrainian business. More benefits at the link.
Read also:
State Budget-2024: salary guidelines
Minimum wage, living wage and rates for FOP in 2024
“Minimum wage and living wage 2024: how taxes and fines for entrepreneurs will change”
