Kiev Post Doing Business Posted on June 3 at 12:18 pm
Soybeans imported from Ukraine will be unloaded at the port of Nantong in the eastern Chinese province of Jiangsu in May 2019. Agricultural companies in Ukraine are exempt from VAT when exporting their products.
Photo of AFP
Most of the tax revenue in Ukraine comes from social tax, personal income tax and VAT. Taken together, taxes make up 79% of the country’s national budget revenue, or $ 31 billion.
In 2020, Ukraine raised $ 38.5 billion from tax and non-tax revenues. Much of this came from VAT on both imported and domestic goods – 37.2%. The state budget approaches $ 50 billion; the rest is financed by borrowing.