Business news from Ukraine

Tax revenues in 2022 to budget increased by 13% – head of the committee

1 January , 2023  

Receipts of taxes and other charges to the general fund of the state budget in 2022 in terms of payments administered by the State Tax Service amounted to 694.4 billion UAH, which is 4.5 billion UAH, or 0.6% below the indicative indicators, the head of the parliamentary committee on finance, tax and customs policy Daniel Getmantsev said.

“More than last year the fact of January-December 2021 paid 80.0 billion UAH (+13.0%),” he wrote in a telegram on Saturday.

Hetmantsev said that in December 2022 the general fund of the state budget received 55.8 billion UAH, which is 12.6% or 6.2 billion UAH more than the indicator, and by 12.3% or 6.1 billion UAH more than the plan 2021.

According to him, such figures are largely due to an increase in revenues from the value added tax (VAT) on manufactured goods compared to last year by almost 1.4 times, or 58.1 billion UAH – up to 213.9 billion UAH. This is also by 19.1% or 34.3 billion UAH more than the indicative plan.

The head of the committee added, without specifying the amount of VAT refund, that in December the indicative indicators for this tax are exceeded by 22.5%, or 3.2 billion UAH, and amounted to 17.5 billion UAH, which is 13.4% or 2.1 billion UAH more than in December 2021

Hetmantsev also noted that the excise tax (made + imported) brought the budget 8.6 billion UAH, or 270 million more to the figure of the Ministry of Finance.

On the eve of the State Customs Service reported that in 2022 transferred 300.8 billion UAH of customs payments to the state budget, including 36.7 billion UAH in December compared to 33.4 billion UAH in November and 32.5 billion UAH in October.

The department recalled that in January and February of this year the receipts were 37.2 billion UAH and 39.6 billion UAH respectively, then collapsed in March and June to 7.7 billion UAH, 8.8 billion UAH, 9.5 billion UAH and 12.7 billion UAH respectively.

However, in the following months, including due to the abolition of import privileges introduced at the beginning of the war, they increased significantly, amounting already in July to 22.9 billion UAH and 30 billion UAH in August and September.

As it was reported with reference to the Ministry of Finance, the State Tax Service revenues to the general fund of the state budget in 2021 were 614.4 billion UAH, an increase of 3.1%, or 18.4 billion UAH above the budget.

Customs revenues last year brought 409.3 billion UAH to the general fund, and another 75.6 billion UAH to the special fund, which is 35% or 126.3 billion UAH more than in 2020. Including in December 2021 the total transfers of the State Customs Service amounted to 52.7 billion UAH, and during martial law in Ukraine (February 24) – 226.4 billion UAH of customs payments.

It should be noted that under martial law the functionality and positive dynamics of the increase of transfers of customs duties and other payments to the revenue part of the budget has been maintained.

Thus, the indicators of revenues increased from UAH 7.7 billion in March to UAH 36.7 billion in December this year.