Ukrainian individual entrepreneurs are going to raise taxes: what is known
Ukraine plans to increase the tax burden on individual entrepreneurs (IEs). The possibility of introducing additional taxation for certain categories of business is also being discussed. Find out more about what may change
The Ukrainian government plans to raise an additional UAH 44 billion to the state budget using domestic economic resources.
According to the head of the Verkhovna Rada's Tax Committee, Danylo Hetmantsev, one of the methods to increase revenues is to raise taxes for individual entrepreneurs through the introduction of a military fee and additional taxes on various financial transactions.
Tax hikes are being prepared for individual entrepreneurs in Ukraine: details
It is noted that this decision is part of the government's efforts to increase financial resources due to the delay in US aid and difficulties in obtaining loans from international financial organizations that require Ukraine to confirm its financial stability. This is especially critical for financing the country's defense needs, which are covered exclusively by the domestic budget.
Mr. Hetmantsev announced that a government bill will be introduced soon, which will include measures to increase tax revenues.
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Among the planned initiatives are an increase in the military tax, the introduction of this tax for individual entrepreneurs and certain categories of legal entities, additional taxes on real estate and jewelry transactions, and advance payments from gas stations.
The MP acknowledged the limited possibilities for a significant increase in budget revenues due to the economic situation in the country, but emphasized the need to increase defense spending.
In particular, the needs include additional mobilization, purchase of military equipment, repair of equipment, as well as spending on medical care for the wounded and compensation to the families of the deceased.
Ultimately, according to Hetmantsev, the government will have to choose between ensuring the country's security and economic constraints, where the priority remains protecting the lives of citizens.
We remind you! Earlier, we wrote that over the past year, the fiscal authorities received thousands of declarations from individuals who reported income of more than UAH 1 million. Learn more about income declaration in 2023 and the number of official millionaires in Ukraine.
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