How the life of Ukrainians will "improve" in the summer: an increase in electricity tariffs, the abolition of benefits for fops and a rise in gasoline prices

Highlights: Ukrainians will have to pay for electricity at a single tariff of UAH 2.64 per kilowatt-hour. The cost of light distribution has also increased by about 25-50%. All Ukrainian banks will send weekly data on card transactions of their clients to the National Bank. Experts predict a significant rise in the price of automobile fuel and tension in the foreign exchange market in the near future. Read more about all changes – news 1+1(TSN.ua)..

What will change in Ukraine in the summer of 2023 – what will be the new electricity tariffs, in detail about the abolition of benefits for individual entrepreneurs. Read more about all changes – news 1+1(TSN.ua).

Ukrainians will have to pay more for electricity, sole proprietors will have their bills removed and checks will be returned, and the National Bank will control the funds on the cards. In addition, experts predict a significant rise in the price of automobile fuel and tension in the foreign exchange market in the near future.

The TSN.ua website has collected the main economic "improvements" that await us in the summer of 2023.

Increase in electricity tariffs

Ukrainians will have to pay for electricity at a single tariff, which has almost doubled. Starting from June 1, 2023, the population will pay a single tariff of UAH 2.64 per kilowatt-hour. The cost of light distribution has also increased by about 25-50%. Electricity bills can grow by several hundred hryvnias.

Increasing the tariff to UAH 2.64 per kilowatt should help ensure stable operation of the power system. Initially, it was planned to raise prices to 2.88 hryvnia per kilowatt-hour, but the government changed the decision in favor of the minimum tariff.

To save money, the government offers the population to switch to multi-tariff accounting. According to the Cabinet of Ministers of Ukraine, Ukrainians can save on light with the help of two-zone and three-zone tariffs. Then the cost of electricity will depend on the time of consumption. During peak hours of electricity consumption, the cost will be charged at the full tariff, and during off-peak hours it can be cheaper.

Removal of lgot from sole proprietors

The Parliament supported draft law No. 8401, which abolished the benefits of paying a single tax for sole proprietors in groups 1 and 2 and a rate of 2% for sole proprietors in group 3. Also, entrepreneurs will now have to pay fines for work without cash registers/cash registers.

From April 3, 2022 until the end of martial law, sole proprietors of groups 1 and 2 could pay a single tax on a voluntary basis. From July, entrepreneurs must pay a single tax.

For sole proprietors of group 3, the benefit of 2% of profits will be canceled. Many entrepreneurs took advantage of this privilege during a full-scale war. From July, sole proprietors who are at this rate will be automatically transferred to the group and rate from which they came by 2%.

From the beginning of 2022, entrepreneurs had to work with a cash register (registrar of settlement transactions), if they have foreign exchange earnings, or a POS terminal / Internet acquiring. After the outbreak of war, the government also granted relief to entrepreneurs in this matter – if the entrepreneur did not issue a check, the fine was not applied. After the adoption of the draft law, a fine of 100%-150% of the amount of goods purchased without a check is returned for failure to issue a check. Scheduled documentary inspections are also returned.

Control of funds on cards

From June 5, all Ukrainian banks will send weekly data on card transactions of their clients to the National Bank. They will report every Monday until 16:00 on non-cash payments for the previous week.

According to the Ministry of Finance with reference to the letter of the NBU, which is available to the publication, the data will be submitted with the name of the client or the name of the business entity that made payments.

The regulator will expect information from banks on the following types of transactions:

P2P-transfers (transfer of funds between individuals);
replenishment or withdrawal of cash from card accounts at cash desks or ATMs;
payments on the Internet;
transfer of funds from card to current account of the company or payments to clients' cards from the company's account;
The report will include transactions for any amount, since the letter does not specifically indicate the threshold from which the transaction should be tracked.

Currently, data on all transactions in the amount of UAH 400 thousand or more are automatically transferred to the SFMS.

The rise in price of automobile fuel

From July 1, Ukraine will return the full value added tax (VAT) on automobile fuel, which was reduced from 20% to 7% after the full-scale invasion of the Russian Federation. The abolished excise tax on fuel will also be restored.

According to estimates published by the Union of Ukrainian Entrepreneurs (UUE), as a result of the return of the full amount of taxes on automobile fuel, a liter of gasoline at Ukrainian gas stations may rise in price by UAH 12, diesel – by UAH 8, and autogas – by UAH 3.

Oil products market expert Leonid Kosianchuk in a comment to "Obozrevatel" predicts a similar rise in price.

"You take the current price and add UAH 10-11 for gasoline, UAH 7-8 for diesel and UAH 3.5 for gas," the expert voiced his forecasts.

According to him, gasoline after July 1 will cost UAH 56-57 per liter, diesel fuel will rise in price to UAH 50-52. As of the beginning of June, the average price of a liter of A-95 in Ukraine is 46 UAH. In a month, its cost may increase to 58 UAH.

The return of the excise tax and full VAT (20%) was explained by the chairman of the tax committee of the Verkhovna Rada Danylo Getmantsev by the fact that the reduction of this tax to 7% hit budget revenues hard.

Tension in the foreign exchange market

Analyst Alexey Kozyrev predicts that the dollar cash rate in June will fluctuate from 36.80 to 38 UAH/USD, and in exchange offices – from 36.90 to 37.85 UAH/USD. In his opinion, in June there will be no so-called "absolution of the course", which is now being discussed. However, the month will be very "tense in the foreign exchange market".

"The National Bank, according to my forecast, will continue to keep the corridor from 36.56 to 36.93 UAH / USD. To maintain this corridor, the NBU will spend from $ 1.75 to $ 2.4 billion from reserves. Thanks to international assistance, the reserve remains at a high level," the expert said.

As for the euro exchange rate, according to Kozyrev's forecasts, it will range from 39.70 to 41.00 UAH/EUR, and the non-cash euro exchange rate – from 38.57 to 40.33 UAH/EUR.

Recall that after the increase in electricity tariffs in Ukraine, citizens will continue to receive subsidies that will cover this increased cost. The Ministry of Social Policy assures that the state has money for subsidies.

Read also:

Electricity tariffs need to be doubled: a loud statement by former Energy Minister Orzhel
PrivatBank does not accept dollars and euros in terminals and ATMs: what is the reason
The National Bank has issued a new coin: what does it look like