The Ukraine parliament approved Draft Law 9656-d on 21 November 2023, which was sent to the President of Ukraine for signature on 27 November 2023. The final version of the law provides for a tax rate of 50% on the windfall profits of banks based on the results of the 2023 tax year. The law also provides for an increased corporate tax rate of 25% for banks with effect from 1 January 2024.