The Verkhovna Rada increased the profit tax for banks in 2026: what will change

On December 3, 2025, the Verkhovna Rada of Ukraine adopted in the second reading and as a whole draft law No. 14097, which amends the Tax Code regarding the taxation of banks in 2026. The document provides for a significant increase in the profit tax rate for banks and limits the possibility of reducing taxable profit by losses of previous years.

According to the new rules, in 2026, banks will pay profit tax at an increased rate of 50%, instead of the current 25%. At the same time, the ban on taking into account losses from previous periods remains. The purpose of the changes is to ensure stable filling of the state budget in conditions of martial law and the growth of the needs of the security and defense sector.

The draft law provides that the increased tax will allow balancing the budget while maintaining the predictability of tax policy. Recall that a similar rate increase has already been applied twice: in 2023, banks paid UAH 77 billion, and in 2024, UAH 96 billion, providing about a third of the state budget revenues from income tax.

However, the position of the National Bank of Ukraine regarding this initiative remains critical. The regulator warns that for some state-owned banks, the increased tax may lead to the need for additional capitalization. The NBU notes that the diversion of significant funds to pay the tax may worsen liquidity and threaten the implementation of capitalization programs based on the results of the 2025 sustainability assessment and regulatory requirements within the framework of integration with the EU.

In addition, the NBU draws attention to the risks to the transparency of the banking sector. The repeated application of the increased rate may discourage banks from working openly and encourage them to engage in "tax arbitrage." The regulator believes that the bill could undermine trust in the tax system and will have serious consequences not only for banks, but also for the entire economy.

The National Bank will initiate further discussion of this issue at all levels to minimize negative consequences and prevent the repetition of erroneous steps in tax policy. At the same time, the government and parliamentarians emphasize that the increased tax on bank profits is an important tool for the financial stability of the state in crisis conditions.