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TaxesUkraine

Tuesday, May 6
The IMF recommends increasing several tax rates to satisfy Ukraine’s 2026 state budget.

The IMF recommends increasing several tax rates to satisfy Ukraine’s 2026 state budget. At the 2025 Spring Meetings in Washington, the IMF provided Ukrainian government officials with various recommendations on addressing the state budget for 2026. It is noted that representatives from U...

  • #DanyloHetmantsev
  • #imf
  • #TaxesUkraine
  • #TaxIncrease
  • #UkraineBudget
  • #UkraineEconomy
Friday, April 18
In March, Ukraine’s tax revenues surpassed their target by $1B.

In March, Ukraine’s tax revenues surpassed their target by $1B. According to Finance Minister Serhiy Marchenko, this figure was made possible by a better-than-expected electricity supply during the winter, which enabled businesses to operate more consistently and ...

  • #financialaidforUkraine
  • #imf
  • #nbu
  • #SerhiyMarchenko
  • #TaxesUkraine
  • #UkraineBudget2025
Tuesday, April 15
Nearly 50% of Ukrainian retail operates in the shadows.

Nearly 50% of Ukrainian retail operates in the shadows. The extent of shadow activity in Ukrainian retail trade has reached a critical level: According to various estimates, up to 45% of all retail transactions may take place outside of Ukraine’s tax...

  • #retailUkraine
  • #TaxesUkraine
  • #UkraineBudget
  • #UkraineEconomy
  • #UkraineShadowEconomy
Wednesday, February 26
Ukraine’s state debt increased by 14%, reaching $166B. What lies ahead for the budget?

Ukraine’s state debt increased by 14%, reaching $166B. What lies ahead for the budget? Analysts note that by the end of 2024, state and state-guaranteed debt amounted to ₴6.98T, or $166.1B. Over the year, this amount increased by more than 26% in hryvnia and by 14% in foreign currency t...

  • #financialaidforUkraine
  • #TaxesUkraine
  • #UkraineBond
  • #UkraineBudget2025
  • #UkraineBudgetDeficit
  • #ukrainedebt
Thursday, January 16
Ukraine plans to introduce taxes on income from digital platforms.

Ukraine plans to introduce taxes on income from digital platforms. With the move, the state expects to receive ₴10B annually from Glovo, Bolt, Uklon, and others. In April 2025, the Ukrainian government must submit to parliament a bill on the taxation of digital platf...

  • #Bolt
  • #DigitalPlatforms
  • #Glovo
  • #TaxesUkraine
  • #Uklon
Wednesday, January 8
Local budget revenue exceeded UAH 450B last year; which regions’ revenue grew the most?

Local budget revenue exceeded UAH 450B last year; which regions’ revenue grew the most? General fund revenues of regional budgets (excluding inter-budgetary transfers) in 2024 amounted to UAH 451B, which is 2.1%, or UAH 9.1B, more than in 2023. It is noted that since October 2023, local ...

  • #kyiv
  • #LocalBudgetUkraine
  • #Mykolaiv
  • #TaxesUkraine
  • #UkraineBudget2024
  • #UkraineBudgetRevenue
Monday, December 2
Zelenskyy signs tax increases into law: How much more will the budget receive?

Zelenskyy signs tax increases into law: How much more will the budget receive? President Volodymyr Zelenskyy signed a law on tax increases that are necessary to finance defense spending. The increases came into force on December 1. The total tax increases in 2024 will be about ₴...

  • #TaxesUkraine
  • #TaxIncrease
  • #UkraineBudget2025
  • #UkraineBudgetRevenue
  • #Zelenskyy
Friday, November 22
How have relocated Ukrainian businesses affected their new regions financially?

How have relocated Ukrainian businesses affected their new regions financially? Since the beginning of the full-scale war in Ukraine, an enterprise relocation program has existed. For the regions where these companies have moved, this means additional jobs and tax revenue. Accord...

  • #BusinessRelocation
  • #kyiv
  • #TaxesUkraine
  • #UkraineEconomy
  • #Zakarpattia
  • #Львів
Tuesday, November 5
The IMF criticizes the 50% tax rate on banks’ profits and advises Ukraine to increase its internal financing sources.

The IMF criticizes the 50% tax rate on banks’ profits and advises Ukraine to increase its internal financing sources. The deputy head of the IMF mission in Ukraine, Trevor Lessard, noted that the introduction of a 50% tax on bank profits for the second year in a row contradicts the nature of taxing excess profits, un...

  • #imf
  • #TaxesUkraine
  • #TaxIncrease
  • #TrevorLessard
  • #UkraineBanksProfits
  • #UkrainianBanks
Friday, October 25
The IMF encourages Ukraine to make profound tax changes but not to raise rates.

The IMF encourages Ukraine to make profound tax changes but not to raise rates. IMF experts unveiled their proposals for reducing Ukraine’s national debt as part of their recommendations. The IMF’s Deputy Director of the Fiscal Affairs department, , noted that their r...

  • #EraDablaNorris
  • #imf
  • #TaxesUkraine
  • #TaxIncrease
  • #ukrainedebt
  • #UkraineEconomicForecast
  • #UkraineEconomy
Wednesday, October 16
Half of the economy, and ₴500B in taxes, are in the shadows,

Half of the economy, and ₴500B in taxes, are in the shadows, said the head of the Parliamentary Finance Committee, Danylo Hetmantsev. However, he specified that after measures taken by the state, this amount will decrease to ₴420-430B ($10B). At the same time, ...

  • #DanyloHetmantsev
  • #EuropeanIntegration
  • #ShadowEconomy
  • #TaxesUkraine
  • #UkraineEconomy
Monday, October 14
The tax increase will bring a corresponding increase in Ukraine’s shadow economy.

The tax increase will bring a corresponding increase in Ukraine’s shadow economy. Because of the retrospective increase in taxes from October 1, businesses are transferring their workers to the shadow employment sector. This will increase the shadow economy by 10 percentage points,...

  • #ShadowEconomy
  • #TaxesUkraine
  • #TaxIncrease
  • #UkraineBudgetDeficit
  • #UkraineEconomy
Friday, October 11
The Ukrainian Parliament approved a record tax increase.

The Ukrainian Parliament approved a record tax increase. On October 10, the Verkhovna Rada adopted draft law No. 11416-d, enacting a historic tax increase. The document provides for: An increase in the military levy from 1.5% to 5%, except for the military ...

  • #ReformsinUkraine
  • #TaxesUkraine
  • #TaxIncrease
  • #UkrainianParliament
Tuesday, October 8
The Ministry of Finance explains the importance of the historic tax increase.

The Ministry of Finance explains the importance of the historic tax increase. All the tax revenue in the state budget is directed to the security and defense sector, but even that is not enough. The Ministry of Finance noted that the balance is covered through other sources, in...

  • #BudgetDeficit
  • #DefenseSpending
  • #TaxesUkraine
  • #UkraineBudget2024
  • #UkraineEconomy
Monday, September 16
The IMF will decide on the next tranche for Ukraine in the coming weeks but keeps insisting on mobilizing domestic revenues for critical expenses.

The IMF will decide on the next tranche for Ukraine in the coming weeks but keeps insisting on mobilizing domestic revenues for critical expenses. The IMF Executive Board plans to consider the issue of approving the results of the EFF program’s fifth revision and the allocation of the next tranche to Ukraine within a few weeks, IMF spokesw...

  • #imf
  • #JulieKozack
  • #TaxesUkraine
  • #UkraineBudget
  • #UkraineBudgetDeficit
Friday, September 6
The business community offers an alternative to increasing taxes in Ukraine.

The business community offers an alternative to increasing taxes in Ukraine. Members of the European Business Association hope that instead of drafting laws to raise taxes for businesses, the government can find other solutions to fund the budget, as the entire burden of the p...

  • #EBA
  • #ReformsinUkraine
  • #TaxesUkraine
  • #UkraineBudget2024
  • #UkraineBudgetDeficit
  • #ukrainianbusiness
Wednesday, July 31
Given the war’s continuation, Ukraine will need up to $15B in additional funding next year.

Given the war’s continuation, Ukraine will need up to $15B in additional funding next year. According to Finance Minister Serhiy Marchenko, Ukraine and the International Monetary Fund (IMF) estimate the country’s additional financial need for 2025 from Western partners at between $12B ...

  • #imf
  • #MilitaryLevy
  • #SerhiyMarchenko
  • #TaxesUkraine
  • #UkraineBudget
The Ministry of Finance is ready for a compromise with the parliament regarding tax increases.

The Ministry of Finance is ready for a compromise with the parliament regarding tax increases. According to Minister of Finance Serhii Marchenko, this strictly depends on the how the parliament plans to secure an additional ₴120B in revenue by the end of 2024. The Ministry of Finance has propos...

  • #MilitaryLevy
  • #PennyPritzker
  • #SerhiyMarchenko
  • #TaxesUkraine
  • #UkraineBudget
Monday, July 29
The AmCham condemns the government’s initiatives to increase corporate income taxes.

The AmCham condemns the government’s initiatives to increase corporate income taxes. The American Chamber of Commerce in Ukraine (AmCham) called on Ukrainian authorities to strengthen their fight against Ukraine’s shadow economy before increasing the tax burden on honest taxpaye...

  • #AmChamUkraine
  • #DefenseSpending
  • #TaxesUkraine
  • #UkraineBudget2024
Friday, July 19
The government proposes increasing budget expenditures by more than ₴500B and raising taxes to obtain an additional ₴140B.

The government proposes increasing budget expenditures by more than ₴500B and raising taxes to obtain an additional ₴140B. Ukraine’s government approved changes to the state budget that include a proposed spending increase of ₴500.3B, of which ₴495.3B would be directed to the security sector and defense. The head of...

  • #DefenseSpending
  • #ExciseTaxesOnFuel
  • #RoksolanaPidlasa
  • #TaxesUkraine
  • #UkraineBudget2024
Wednesday, July 17
Ukraine lacks ₴500B to finance planned expenditures this year, although the financial sector has increased tax payments by 170%.

Ukraine lacks ₴500B to finance planned expenditures this year, although the financial sector has increased tax payments by 170%. According to the head of the Budget Committee, Roksolana Pidlasa, to finance the necessary expenses, the state budget for 2024 lacks about ₴400-500B ($10-12B). The question of funding the state budget...

  • #BudgetDeficit
  • #RoksolanaPidlasa
  • #TaxesUkraine
  • #UkraineBudget2024
  • #UkraineBudgetRevenue
Wednesday, June 12
The Ukrainian parliament says that the government is preparing to raise taxes.

The Ukrainian parliament says that the government is preparing to raise taxes. Chairman of the Verkhovna Rada Committee on Finance Danylo Hetmantsev said that the Cabinet of Ministers is preparing proposals to raise certain taxes. This is because the Ministry of Defense needs an...

  • #DanyloHetmantsev
  • #TaxesUkraine
  • #UkraineBudget2024
  • #UkraineBudgetDeficit
  • #WarExpensesUkraine
Thursday, June 6
Ukraine’s state budget revenues have been decreasing for four months in a row.

Ukraine’s state budget revenues have been decreasing for four months in a row. In May 2024, the general fund of the state budget received ₴151.8B, which is less than in February, March, and April, the Ministry of Finance notes. According to the results from the five completed mo...

  • #financialaidforUkraine
  • #SupportUkraine
  • #TaxesUkraine
  • #ukrainebonds
  • #UkraineBudget2024
  • #ukrainedebt
Tuesday, March 26
Ukraine plans to increase the excise duty on cigarettes, alcohol, and fuel to harmonize with EU norms.

Ukraine plans to increase the excise duty on cigarettes, alcohol, and fuel to harmonize with EU norms. A schedule of annual rate increases until 2028 has been established for all excise goods. In particular, the excise tax on tobacco products will be equated to the euro, the tax rate will gradually inc...

  • #ExciseDuty
  • #ExciseTaxesOnFuel
  • #TaxesUkraine
  • #UkraineEconomy
Monday, March 4
Ukraine’s budget revenue increased by 65% in February, and the gambling industry increased its tax payments by 370%.

Ukraine’s budget revenue increased by 65% in February, and the gambling industry increased its tax payments by 370%. The receipt of taxes, fees, and mandatory payments to the general fund of the state budget of Ukraine in February amounted to ₴184.8B, 65.4% more than in January, the Ministry of Finance reported. Rev...

  • #gamblingukraine
  • #TaxesToTheBudget
  • #TaxesUkraine
  • #UkraineBudget2024
  • #UkraineBudgetRevenue
Thursday, February 29
Banks’ profit in January increased by 14%, analysts explained why.

Banks’ profit in January increased by 14%, analysts explained why. In January 2024, Ukrainian banks produced ₴16.7B in net profit, ₴2.068B or 14% more than in January 2023. Net profit increased despite the increase in the tax rate: In January 2023, banks paid 18% tax...

  • #financeUkraine
  • #TaxesUkraine
  • #UkraineBanksProfits
  • #UkrainianBanks
Monday, February 19
Last year, banks in Ukraine earned 100% more than before the beginning of the war and almost completely paid off their refinancing debts.

Last year, banks in Ukraine earned 100% more than before the beginning of the war and almost completely paid off their refinancing debts. In 2023, Ukrainian banks produced almost ₴160B in pre-tax profit, 100% more than before the start of the full-scale invasion. Banks will have to pay a tax of half their total profit – more than ...

  • #financeUkraine
  • #nbu
  • #TaxesUkraine
  • #UkraineBanksProfits
  • #UkrainianBanks
Ukraine’s tax revenues exceed expectations by 30% due to sea exports.

Ukraine’s tax revenues exceed expectations by 30% due to sea exports. Tax revenues in Ukraine are now 25-30% higher than forecasted in the state budget, primarily due to the successful functioning of the export corridor created by Ukraine in the Black Sea, Minister of I...

  • #MunichSecurityConference
  • #OleksandrKubrakov
  • #TaxesUkraine
  • #TEN-TUkraine
  • #UkraineBudget2024
  • #UkraineMaritimeCorridor
Wednesday, February 14
During the second year of the war, banks increased their profits by 300%.

During the second year of the war, banks increased their profits by 300%. In 2023, solvent Ukrainian banks earned ₴86.5B in net profit. “This is almost four times higher than the figure for 2022 and 12% higher than the results of 2021, before the full-scale invasion,&...

  • #nbu
  • #TaxesUkraine
  • #UkraineBanksProfits
  • #UkrainianBanks
Tuesday, February 13
Ukraine has increased its budget revenues, but the deficit reaches 34% of all revenues.

Ukraine has increased its budget revenues, but the deficit reaches 34% of all revenues. From January 1 to February 8, budget revenues increased by 26.9% compared to last year, the NBU reported. Without international financial aid, they increased by 60% due to a 70% increase in tax revenu...

  • #BudgetDeficit
  • #financeUkraine
  • #nbu
  • #TaxesUkraine
  • #UkraineBudget2024
  • #UkraineBudgetRevenue
  • #UkraineEconomy
Tuesday, February 6
State-owned companies must pay 80% of their profits in the form of dividends.

State-owned companies must pay 80% of their profits in the form of dividends. The Cabinet of Ministers reported that the basic norm for deducting the share of profit directed to paying dividends for enterprises whose charter capital includes state corporate rights should be 80%...

  • #Naftogaz
  • #OschadbankUkraine
  • #TaxesToTheBudget
  • #TaxesUkraine
  • #UkraineStateOwnedEnterprises
  • #UkrainianRailways
  • #Ukrnafta
Tuesday, January 9
Ukraine takes a risk with tax collection rates higher than the pre-war period.

Ukraine takes a risk with tax collection rates higher than the pre-war period. Tax and interest deductions from the economy for 2022-2023 in Ukraine doubled. For example, tax revenues to the consolidated budget have increased by 110% over the past two years, thanks mainly to rev...

  • #BohdanDanylyshyn
  • #TaxesUkraine
  • #UkraineBudget
  • #UkraineEconomy
Thursday, November 23
Processing enterprises paid the most taxes for 10 months of the year.

Processing enterprises paid the most taxes for 10 months of the year. According to Ukraine’s Tax Service, such enterprises paid 18% of the total tax to the Consolidated Budget of Ukraine. Also, significant tax contributions were provided by: Wholesale and retail t...

  • #ProcessingPlantUkraine
  • #TaxesUkraine
  • #UkraineBudget
Wednesday, November 15
This year, the tax on bank’s excess profits may be increased to 50%.

This year, the tax on bank’s excess profits may be increased to 50%. The Ministry of Finance will initiate changes to the draft law that was passed in the first reading regarding the taxation of excess bank profits for additional revenues for the state budget next year...

  • #financeUkraine
  • #nbu
  • #TaxesUkraine
  • #UkraineBanksProfits
  • #UkrainianBanks
Tuesday, October 10
The IMF advises Ukraine to optimize tax collection against a possible decrease in international financial support.

The IMF advises Ukraine to optimize tax collection against a possible decrease in international financial support. As the head of the IMF mission, Gavin Gray, noted, this should be considered because the need to finance social expenditures will increase after the war’s end. “That’s why the author...

  • #financialaidforUkraine
  • #GavinGray
  • #imf
  • #ReformsinUkraine
  • #TaxesUkraine
Monday, September 18
The NBU expects to attract an additional UAH 20B from an increased tax on bank profits.

The NBU expects to attract an additional UAH 20B from an increased tax on bank profits. The regulator proposes to increase the bank profit tax rate from 18% to 38% for 2023-2024, NBU Chairman Andriy Pyshnyi said. According to him, this tax structure will have a limited impact on macro-fi...

  • #AndriiPyshnyi
  • #nbu
  • #TaxesUkraine
  • #UkraineBanksProfits
  • #UkrainianBanks
Wednesday, August 23
The processing industry has become the leading budget contributor.

The processing industry has become the leading budget contributor. Through the first seven months of the year, the industry paid 17.1% of taxes and fees collected from enterprises across all sectors, the Tax Service reported. Also, processing companies showed the hig...

  • #DanyloHetmantsev
  • #GamblingBusinessInUkraine
  • #TaxesToTheBudget
  • #TaxesUkraine
Thursday, August 3
Ukrainian-founded crypto exchange platforms lead to billions in losses for the state budget.

Ukrainian-founded crypto exchange platforms lead to billions in losses for the state budget. In the last ten years, the state budget has not received at least UAH 3B in taxes from crypto exchange activities, whose operations have not yet been regulated in Ukraine, said the Economic Security B...

  • #BureauofEconomicSecurity
  • #CryptoExchanges
  • #TaxesUkraine
Thursday, July 13
Almost all Ukrainian businesses resort to tax optimization schemes.

Almost all Ukrainian businesses resort to tax optimization schemes. 70% of Ukrainian companies are not satisfied with the current tax system, and up to 90% of enterprises resort to optimization schemes, shows a survey by the InfoSapiens agency. In total, 56% of respon...

  • #10-10-10TaxModel
  • #businessinukraine
  • #TaxesToTheBudget
  • #TaxesUkraine
Tuesday, May 30
Ukraine plans to restore pre-war taxation to implement their IMF program.

Ukraine plans to restore pre-war taxation to implement their IMF program. In the first reading, the parliament supported changes to the Tax Code of Ukraine and other laws regarding the specifics of taxation during the martial law period. Their goal is to restore the taxatio...

  • #businesstaxes
  • #IMFprogramm
  • #TaxesUkraine
  • #taxreform
Tuesday, May 16
Trade and the mining industry are the highest taxpayers in Ukraine.

Trade and the mining industry are the highest taxpayers in Ukraine. In the first four months of the year, the consolidated budget received UAH 67.7B ($1.85B) in taxes, where 87.1% of all revenues, almost UAH 59B, originated from several branches of the national econom...

  • #TaxesUkraine
  • #TaxPayersUkraine
  • #UkraineBudget
  • #UkraineEconomy
Monday, November 28
The wholesale, retail, and processing industries are still among the largest taxpayers during the war.

The wholesale, retail, and processing industries are still among the largest taxpayers during the war. From January to October, the largest share of the payment of taxes, fees, and payments to the consolidated budget was contributed by enterprises in the following industries: wholesale and retail trade...

  • #TaxesToTheBudget
  • #TaxesUkraine
  • #UkrainianEconomy
Monday, March 21
The president signed a law on tax incentives for businesses during the war.

The president signed a law on tax incentives for businesses during the war.  President Volodymyr Zelenskyy signed a law defining the peculiarities of the administration of taxes and fees during the martial law regime. According to the law, from April 1, 2022, until the termin...

  • #TaxesUkraine
  • #taxreform
  • #UkraineTax
  • #WarinUkraine
  • #Zelenskyy
Thursday, April 1

Just as the interview was posted, the Rada passed on first reading a tax amnesty. Valid for one year – from this July through July 1, 2022 – the amnesty would clear tax bills from assets voluntarily declared. The one-time tax schedule would be: 5% on declared assets inside Ukraine;...

  • #Taxes
  • #TaxesAmnesty
  • #TaxesUkraine
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