Tax authorities report: more revenues, fewer blocked invoices
3 February 09:42
The State Tax Service of Ukraine exceeded its revenue target for January by UAH 9.8 billion. This was announced by the Head of the State Tax Service of Ukraine Ruslan Kravchenko, "Komersant Ukrainian" reports.
“All those who were rooting for my ‘failure’ as the new head of the State Tax Service can relax. No one has failed anything. Revenue targets for January were fulfilled by 114.8%. This is despite the fact that the VAT refund is 1.6 times higher than the actual refund in January 2024. In total, the general fund of the state budget received UAH 76.1 billion from payments controlled by the State Tax Service. This is plus UAH 9.8 billion to the plan,” he said.
Key figures:
– VAT refunds amounted to UAH 15.5 billion. This is UAH 5.7 billion or 1.6 times more than the actual refund in January 2024.
– Significant overperformance in VAT. An additional UAH 4 billion of VAT (plus 11.8%) was received.
– The over-execution of excise tax on manufactured and imported excisable goods amounted to more than UAH 2 billion (plus 28.0% of the plan).
In addition, the rate of tax invoice blocking decreased in January. Currently, it is 0.5% in Ukraine. Also, almost 5.5 thousand business entities have been removed from the list of risky ones.
What was the overall situation with budget revenues in January?
According to the Ministry of Finance, as of January 31, the general fund of the state budget received UAH 123.1 billion in taxes, fees, and mandatory payments as of 4 p.m. on January 31.
According to the results of January, payments from the State Tax Service amounted to UAH 75 billion, including:
uAH 36.6 billion in value added tax (UAH 52.1 billion collected and UAH 15.5 billion refunded);
uAH 23.8 billion – personal income tax and military duty;
uAH 9.3 billion – excise tax;
uAH 2.3 billion – rent;
uAH 2.3 billion – corporate income tax.
Payments from the State Customs Service amounted to UAH 43.8 billion.
In general, according to the latest data, as of January 2025, the general and special funds of the state budget received UAH 276.7 billion in taxes, fees and other payments. In addition, another UAH 40.8 billion (as of January 30) was received in the form of unified social tax to pension and social insurance funds.
