The Law on the State Budget of Ukraine for 2014 was adopted on 16 January 2014.

The Law provides for the following minimum wage for 2014: from 1 January - UAH 1,218.00; from 1 July – UAH 1,250.00; from 1 October – UAH 1,301.00.

Hence, in order to calculate individual income tax in 2014, the following rates will apply: with respect to monthly income up to UAH 12,180.00 – 15%, with respect to monthly income over UAH 12,180.00 - 17%.

The maximum salary subject to unified social contribution in 2014 is as follows:

  • From 1 January until 30 June – UAH 20,706.00
  • From 1 July until 30 September – UAH 21,250.00
  • From 1 October until 31 December - UAH 22,117.00