Minister Marchenko: Mandatory VAT for sole proprietors with a turnover of over 1 million is planned to be introduced in 2027.
The Minister of Finance, Marchenko, declared that the rollout of obligatory VAT for individual entrepreneurs with a yearly revenue surpassing one million hryvnias is scheduled for 2027.
As stated by Representative Zheleznyak, Ukraine pledged to the IMF to put these alterations into effect before the close of March 2026 and to render VAT compulsory for streamlined taxation schemes starting January 1, 2027.
Other preliminary measures (obligatory terms of the IMF) encompass the enactment of a collection of tax overhauls, including levies on earnings from virtual platforms (the “OLX levy”) and the termination of the 150-euro tax-free status on items that Ukrainians obtain via postal services.
Financial analysts have earlier indicated that the application of the IMF-demanded VAT rate for individual business owners would inflict considerable damage to small-scale enterprises.
