How Salaries, Pensions and Taxes Will Change in 2020
The minimum wage in Ukraine has risen by 550 hryvnias, while the subsistence minimum and pensions are also increasing.
From January 1, 2020, the minimum wage in Ukraine is raised by 550 hryvnias — to 4,723 hryvnias.
This is stated in the law “On the State Budget of Ukraine for 2020”.
The subsistence minimum in 2020 will be
- for one person per month in the first half of the year — 2,027 hryvnias, from July 1 — 2,118 hryvnias, from December 1 — 2,189 hryvnias;
- for children under 6 in the first half of the year — 1,779 hryvnias, from July 1 — 1,859 hryvnias, from December 1 — 1,921 hryvnias;
- for children aged 6 to 18 in the first half of the year — 2,218 hryvnias, from July 1 — 2,318 hryvnias, from December 1 — 2,395 hryvnias;
- for working-age persons in the first half of the year — 2,102 hryvnias, from July 1 — 2,197 hryvnias, from December 1 — 2,270 hryvnias;
- for persons who have lost the ability to work, in the first half of the year — 1,638 hryvnias, from July 1 — 1,712 hryvnias, from December 1 — 1,769 hryvnias.
Due to the increase in the subsistence minimum, the rates of the court fee will rise.
In addition, the minimum old-age pension for those who have turned 65 and have at least 30 years of insurance record for women and 35 years for men will increase to 1,889.2 hryvnias. Pension recalculation will be automatic, based on pension case files.
Official: state budget for 2020 published
For working pensioners, recalculation using the new minimum wage indicator will be carried out after they leave their job or cease business activity. For pensioners who reach 65 in 2020, such recalculations will be carried out from the date they reach that age, provided they have the required insurance record. From January 1 to June 30, 2020, the old-age pension will remain at 1,638 hryvnias. From July 1 — it will rise to 1,712 hryvnias, and from December 1 — to 1,769 hryvnias.
The minimum amount of the unified social contribution will be 1,039.06 hryvnias, and the single tax:
- for group 1 entrepreneurs — 210.2 hryvnias;
- for group 2 — 944.6 hryvnias;
- for group 3 — 5% of income or 3% of income plus VAT.
Earlier, President of Ukraine Volodymyr Zelensky said the authorities plan to significantly raise pensions.
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