Tax reporting rules change for individual entrepreneurs and legal entities: what you need to know

Starting in 2025, individual entrepreneurs and legal entities will submit tax returns under the new rules on a monthly basis, instead of quarterly. The Ministry of Finance has updated the form for calculating personal income tax and unified social tax, changing its structure and submission procedure. Find out how the new rules will work, what deadlines should be taken into account, and how entrepreneurs can prepare for the changes

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New tax reporting rules for entrepreneurs are coming into force in Ukraine.

The Ministry of Finance has approved an updated form of tax calculation of personal income tax and unified social tax and changed the procedure for its submission. From now on, the tax calculation will have to be submitted monthly instead of quarterly.

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Tax changes for entrepreneurs: what changes for individual entrepreneurs and legal entities?

The main change is the transition from quarterly to monthly reporting. This applies to all tax agents, including:

✅ legal entities,

✅ individual entrepreneurs who pay income to individuals.

New reporting schedule

📌 Until 2025, the tax calculation was submitted quarterly.

📌 Starting from 2025, the tax calculation is submitted monthly - by the 20th day of the month following the reporting period.

Transition period

Until February 10, 2025, individual entrepreneurs and legal entities will submit reports for the fourth quarter of 2024 under the old rules.

Starting from February 20, 2025, a new report for January 2025 must be submitted using the updated form.

Proper business registration is the key to its successful operation. Mistakes at the stage of registration or choice of taxation can lead to fines and restrictions in the future. To avoid unnecessary risks, it is worth contacting professional lawyers who will help you choose the best form of business, prepare all the documents and advise you on how to work within the law.

New tax reporting form

The Ministry of Finance has updated the structure of the tax calculation, which will now consist of:

- The main calculation of the amounts of personal income tax (PIT) and unified social tax (UST).

- Several annexes, including:

information on the accrual and payment of the unified social contribution,

information on personal income,

information on labor relations,

information on special seniority.

The forms for filing tax returns have already been published on the website of the Ministry of Finance.

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How will the innovations affect entrepreneurs?

🔹 Increased control. Monthly reporting will allow the tax authorities to detect violations faster and control budget revenues.

🔹 Simplified reporting. The updated reporting form should simplify the reporting process for individual entrepreneurs and legal entities.

🔹 More frequent submission deadlines. Entrepreneurs now have to prepare and submit reports on a monthly basis, which requires careful record keeping and compliance with tax deadlines.

Thus, starting in 2025, the rules for filing tax reports will change for all entrepreneurs. Previously, reports were submitted quarterly, but now they are to be submitted monthly, by the 20th day of the following month. The innovations apply to all tax agents, and the new calculation form will include several annexes with detailed information on income, unified social tax, and labor relations.

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