Record growth of tax collections: how much Ukrainians will pay in 2024
1 April 12:25
In 2024, Ukraine has achieved a significant increase in tax revenues – by 37% compared to the previous year, which amounted to 1.65 trillion hryvnia. This is reported by the Center for Economic Strategy, Komersant ukrainskyi informs.
In 2024, tax revenues in the budget of Ukraine increased by 37%, reaching UAH 1.65 trillion. This is a significant increase, for the first time returned state revenues to the pre-war level in real terms (adjusted for inflation and in prices of October 2021).
Which taxes provided the largest increase?
The most significant contribution to the growth of tax revenues was made by:
- Profit tax – 127 billion UAH
- Excise duties – UAH 106 billion
- VAT on imports – UAH 100 billion.
Thus, all key taxes grew faster than the inflation rate, which allowed to significantly increase the state budget revenues.
Tax increase at the end of 2024
One of the main drivers of revenue growth was the historic tax increase at the end of 2024. The main reason for this decision was concerns about the lack of funds to finance Ukraine’s defense.
The main focus was on raising the military levy, which affected officially employed citizens and “white” businesses.
The shadow sector remained virtually unchanged, which created an uneven distribution of the tax burden.
