The National Bank of Ukraine has announced its decision to increase the key policy rate to 25.0% per annum with effect from 3 June 2022, which is up from 10.0%. For tax purposes, this affects the late payment penalty interest, which is based on the National Bank rate. The penalty interest rate is equal to 120% of the National Bank rate, which results in an increase in the penalty interest rate from 12.0% to 30.0% per annum.
Source Orbitax
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