Ukraine

There will be no tax increase for sole proprietors yet: Ministry of Finance

An increase in taxes for FOPs is not yet foreseen, as the corresponding measures envisaged by the National Revenue Strategy have not yet been implemented. Any decision on changes will be made by the Verkhovna Rada, informs press service of the Ministry of Finance.

“Anonymous Telegram channels have spread information and clickbait headlines that the Ministry of Finance is already planning to increase taxes for FOP. Such information is untrue and manipulative”, the message says.

At the same time, the Ministry of Finance confirmed the existence of plans to change the simplified taxation system, which is recorded in the National Revenue Strategy:

“Legislative changes regarding the elements of the simplified taxation system will begin to be worked out only after the prerequisites for such a reform have been met – no earlier than the year following the one in which the measures for the security of data use and access to information on the volume and circulation of taxpayers’ funds in their bank accounts will be considered completed.”

The press service of the Ministry of Finance also emphasized that consideration and adoption of legislative changes will take place in the Verkhovna Rada.

 

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