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Ukraine's national budget for 2021 envisages two increases in minimum wages, as well as in the subsistence wage and the single social security tax for entrepreneurs.
The Verkhovna Rada, Ukraine's parliament, passed the draft law on the national for 2021 on December 15, 2020. Ukrainian President Volodymyr Zelensky signed the bill into law on December 25.
The minimum wage in Ukraine stood at UAH 5,000, or US$178, per month until January 1, 2021.
Minimum wage in 2021
The monthly minimum wage will rise to:
- UAH 6,000 (US$213) from January 1, 2021;
- UAH 6,500 (US$231) from December 1, 2021.
Hourly minimum wage will grow to:
- UAH 36.11 (US$1.28) from January 1, 2021;
- UAH 39.12 (US$1.39) from December 1, 2021.
Subsistence minimum in 2021
The 2021 national budget also provides for an increase in the subsistence wage for different groups of citizens.
Read also Update on average salaries in Ukraine IT industry Single social security tax for entrepreneurs
The single social security tax paid by individual entrepreneurs depends on the minimum wage. The tax is calculated at 22% of the minimum wage.
The single social security tax will increase to:
- UAH 1,320 (US$46.89) per month or UAH 3,960 (US$140.67) per quarter;
- UAH 1,430 (US$50.80) per month or UAH 4,290 (US$152.40) per quarter.
Author: UNIAN
