“Google tax”: Hetmantsev reports record revenues in 2024
8 January 05:22
Revenues from the tax on electronic services of non-residents in 2024 reached UAH 11.2 billion, which is almost 4 times higher than the initially planned amount. This was announced in a Telegram message by Danylo Hetmantsev, chairman of the Verkhovna Rada Committee on Finance, Taxation and Customs Policy, "Komersant Ukrainian" reports
“Predictions and forecasts that it (the Google tax – ed.) would not work in Ukraine, that non-residents would not register and would leave the Ukrainian market did not materialize. On the contrary, the revenues from the so-called “Google tax” are growing from year to year,” Hetmantsev said.
He noted that budget revenues have shown steady growth: from UAH 4.3 billion in the first year of the tax’s introduction to UAH 8 billion in 2023 and UAH 11.2 billion in 2024. Thus, the current revenues are almost four times higher than the projected figures set out in the law.
“We expect that the next initiatives to implement DAC 7, ATAD I and ATAD II directives will be as successful as the ‘Google tax’,” he added.
As a reminder, in June 2021, the Verkhovna Rada passed a law introducing the “Google tax”. The key change was the obligation of foreign tech giants to pay 20% value-added tax (VAT) on a par with other companies registered in Ukraine.
