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In the next 2021, Ukrainians will face a series of changes in the socio-economic sphere. As of January 1, the size of pensions and the minimum wage will increase. Utilities rates have increased, but it has become easier to provide a subsidy. For entrepreneurs, ERUs are increasing and the rules for reporting are changing. More details on all changes can be found in the RBC-Ukraine material.
The minimum wage increased by 20%
The State Budget for 2021 foresees minimum wage increase up to 6000 UAH from January 1. The next increase is scheduled from December 1 to 6500 hryvnia.
In the hourly wage format, the “minimum wage” will increase from January 1 to UAH 36.11 per hour, and from December 1 to UAH 39.12.
It should be noted that in 2020 the minimum wage was also increased twice: from January 1, 2020 – 4723 hryvnia; from September 1 – 5000 UAH.
How will the cost of living change?
Ukraine’s state budget for 2021 foresees the cost of living from January 1 at the same level that was set in December 2020, with its size increasing on July 1.
So, the base figure for the new year is set at 2189 hryvnia. On July 1, there will be an increase to 2294 UAH, and on December 1, to 2393 UAH.
For different social groups of the population, the size of the subsistence minimum is different:
- for children under 6 years – from January 1, 2021 to 1921 hryvnia; since July 1, 2013 hryvnia; from December 1 to 2100 hryvnia;
- for children from 6 to 18 years: from January 1 to 2395 hryvnia; from July 1 – UAH 2510; from December 1 to 2618 hryvnia;
- for healthy people – from January 1 to 2270 hryvnia; from July 1 to 2379 hryvnia; from December 1 to 2481 hryvnia;
- for the disabled – from January 1 to 1769 hryvnia; from July 1 to 1854 hryvnia; since December 1, 1934 hryvnia.
Gradual increase in pensions
Due to the increase in the minimum wage, On January 1, the amount of pension payments increased from UAH 2,100 to UAH 2,400 for people over 65 who have more than 30 years of work experience (for women) or 35 years (for men).
March 1, 2021 expected pension indexation by 11%, and on April 1, pensioners who work will be recalculated taking into account the salary for the time of work in retirement and the experience acquired.
The next stage to increase payments is July 1. There will be a recalculation of pensions and allowances for them due to the increase in the subsistence minimum for the disabled from 1769 to 1854 hryvnia and allowances for them.
For people over 65 with 30/35 years of experience On July 1, pensions will go from 2,400 UAH to 2,600 UAH… In addition, a monthly payment of 400 UAH will be introduced for people aged 75-80 years, and if they have an experience of 20/25 years, the pension will be at least 2500 UAH.
For people over 80 years of age, the minimum pension from July 1, 2021 will be 2,600 hryvnia with 20/25 years of experience, an additional monthly payment of 500 hryvnia remains.
Starting from December 1, 2021, there will be an increase in the subsistence level, so the minimum pension will increase to 1,934 UAH.
Utility rates
The Cabinet of Ministers has decided to abolish the preferential electricity tariff for the population. Previously, the cost was set at 90 kopecks per kWh for the first 100 kWh consumed.
As of January 1, 2021, fixed the cost of 1 kW for household consumers will be 1.68 UAH… This is a single rate for the entire volume of electricity consumed, it will be valid until March 31, 2021.
Also, gas supply rates have increased since the new year. The price of gas transportation services from January 1, 2021 will increase in 20 of the 22 gas distribution network operators in Ukraine. For example, in “Kievoblgaz” the gas distribution fee will be 1.55 UAH per cubic meter, instead of 0.81 UAH. Kievgaz will increase the cost from UAH 0.28 to UAH 0.32 for 1 cubic meter.
Gas supply companies will also increase the cost by 1 cubic meter. blue fuel for domestic consumers. Thus, Naftogaz set the rate for January 2021 at 7.22 UAH / cubic meter, 14% higher than the December rate of 6.33 UAH / cubic meter. meter.
Simplification of grant registration
The government has improved the procedure for providing state aid to pay for public services. As of the new year, to apply for a subsidy, it is no longer necessary to visit the Department of Social Security (the personal reception of citizens ceases as of 2021).
You can apply for a grant online on the official website, in the “Diya” app, send by mail or arrange in a local community.
The list of people who can request help from the state when paying for “communal” has also been expanded:
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the right to the allowance was received by Ukrainians whose relatives officially work abroad or remain outside the country during the period of care for a child under 3 years of age;
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citizens who have no income and are exempt from paying ERU according to the law (previously, this category of the population was granted a subsidy only by decision of the commission);
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people who have acquired ownership of a property in the last year, incl. by inheritance.
New microcredit rules
The so-called microcredits are in great demand among the population. In this regard, in the fall of 2020, the Verkhovna Rada adopted a law regulating the procedure for granting consumer loans and the rules of legal relationships in this area. On January 1, 2021, the law enters into force.
An agreement valid for 1 month with a loan amount not exceeding the minimum wage (6 thousand UAH) is classified as a consumer and is regulated by the relevant law.
The total amount of fines and penalties for violation of the specified agreement cannot be more than double the amount, received by the consumer in the terms of the contractand it cannot be increased by agreement of the parties.
Changing the size of the interest rate is prohibited on a loan, changing the procedure to calculate it and the procedure to pay interest.
When writing a loan agreement the consumer is obliged to give his consent to access his credit history, its storage and distribution through the credit bureaus. If the client does not agree with the provision of this information, the credit institution must refuse to sign the contract.
The law limits the number of “quick” loans for a consumer, thus protecting financial institutions from the growth of troublesome debt.
Individual property taxes
Starting in 2021, taxes will be increased for sole proprietorships, which is associated with an increase in the minimum wage and the living wage.
January 1, the size of the Unified Social Contribution for an individual entrepreneur increased from UAH 1,100 to UAH 1,320 (22% of the minimum wage). The next increase will take place from December 1, 2021: ERUs will amount to 1,430 UAH.
The single tax for a sole proprietor of the first group will be 227 UAH (10% of the subsistence minimum for January 2021), for the second group – 1200 UAH (20% of the minimum wage). Individual entrepreneurs of 3 groups pay a single tax in the amount of 5% of income or 3% + VAT.
At the same time, individual entrepreneurs of the first group are exempt from paying the ERU and the single tax in the period from December 2020 to May 2021 inclusive. The corresponding decision was made by the parliament as part of the business support during the quarantine due to the coronavirus.
Also in the new year set the maximum amount of income for each of the sole proprietorship groups, are linked to the size of the minimum wage. Failure to comply with these indicators is one of the conditions for applying the simplified tax system:
- the first group – 167 minimum wages;
- the second group – 834 minimum wages;
- the third group – 1167 minimum wages.
What other changes await entrepreneurs?
With the start of 2021, the procedure for conducting cash transactions in national currency for individual entrepreneurs has changed. Therefore, the mandatory maintenance of the Results Book is canceled.
The law passed by the Verkhovna Rada refers to individual entrepreneurs of the first and second group and individual entrepreneurs of the third group, who are not VAT payers. Said entrepreneurs can keep records in any convenient form (electronic or paper), indicating the amount of income for the month.
Parliament has postponed the introduction of cash registers for sole proprietorships, which was previously planned from January 1, 2021, for another year.
The mandatory use of Settlement Transaction Recorders (PPO) has been canceled until 2022 for sole proprietorships who are single taxpayers of the second or fourth group, whose annual income does not exceed the marginal income of the first group of sole taxpayers.
An exception are entrepreneurs who operate in areas with risks due to the payment of taxes (sale of jewelry, sophisticated appliances, provision of paid medical services, sale of medicines and goods).
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