In Ukraine, it is planned to increase taxes for sole proprietors over the course of three years

In Ukraine, it is planned to increase taxes for sole proprietors over the course of three years

This is stated in the report of the Ministry of Finance on the implementation of the National Revenue Strategy in 2024.

The Ukrainian government is working on a reform of the simplified taxation system, which will change the rules for individual entrepreneurs.

The reform includes the following aspects:

- over three years, the single tax rates for legal entities of the third group will increase to 18%;

- individual entrepreneurs of the second and third groups will be merged into one, and taxes will be differentiated: from 3% for trade to 17% for certain services;

- the first group of individual entrepreneurs will be reduced, leaving only the least profitable types of activities. The fixed rate will be abolished, and taxes will be paid from actual income;

- all entrepreneurs of the second group will be required to use cash registers (RRO);

- the threshold for VAT registration will be extended to all entrepreneurs of the simplified system;

- exceptions from inventory accounting, which currently allow some entrepreneurs to operate without proper reporting, will be abolished;

- for the agricultural sector, tax rates will be revised.