Business news from Ukraine

Business news from Ukraine

Number of citizens with incomes above one million hryvnia in 2024 increased to 17,000

The number of citizens who declared income exceeding one million hryvnia in 2024 increased by 6,600 to 17,000, which is 63.4% higher than in 2023 (10,400), according to Ruslan Kravchenko, head of the State Tax Service of Ukraine.

“In total, more than 17,000 people declared income exceeding one million hryvnia. Overall, millionaires declared income totaling 253.6 billion hryvnia, with 8.7 billion hryvnia in tax liabilities determined for payment. One Kyiv resident declared a record amount of personal income tax and military tax liabilities to be paid to the budget—more than 4.6 billion hryvnia,” he wrote on Telegram on Monday.

Kravchenko added that more than 53,000 citizens exercised their right to a tax rebate and will receive UAH 330 million from the budget. Compared to the same period last year, this is UAH 36 million more.

In total, in 2024, Ukrainians filed 170,000 tax returns and declared UAH 326 billion, which is UAH 107 billion more than in 2023. Based on the tax returns, citizens independently determined that they owed 8.1 billion hryvnia in personal income tax (PIT) and more than 1.5 billion hryvnia in military tax (MT). In regional terms, the largest amounts were declared by residents of Kyiv (UAH 156 billion), Dnipropetrovsk (almost UAH 30 billion), Lviv (UAH 18.2 billion), and Kyiv region (UAH 17.5 billion).

The largest amounts of income declared by citizens last year were income from abroad – UAH 34.2 billion, inheritance and gifts – UAH 13.6 billion, income from the sale of movable and immovable property – UAH 6.8 billion, investment income – UAH 4.9 billion, other taxable income – UAH 4 billion, and income from renting property – UAH 3.4 billion.

“The current tax return campaign has shown an increase in citizens’ tax awareness and their understanding of paying taxes as a social necessity. Thank you to everyone who honestly declared their income,” summarized the head of the State Tax Service.

 

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