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In March, the tax and customs services fully performed the plan, overperforming the State Budget by almost UAH 10 billion

03 April 2024

According to the State Treasury Service of Ukraine, in March 2024, the general fund of the State Budget received UAH 164.3 billion.

Among the payments controlled by the tax and customs authorities, the main revenues were received from:

  • UAH 60.1 billion - corporate income tax, of which UAH 23.5 billion was paid by banks;

  • UAH 40.1 billion in value added tax on goods imported into the customs territory of Ukraine;

  • UAH 18.5 billion - value added tax on goods produced in Ukraine  (UAH 29.7 billion collected, UAH 11.1 billion refunded);

  • UAH 16.0 billion - personal income tax and military duty;

  • UAH 14.5 billion - excise tax;  

  • UAH 4.3 billion - import and export duties;

  • UAH 2.2 billion - fee for the use of mineral resources.

At the same time, the State Tax Service performed 110.0% (+UAH 9.8 billion) of the monthly revenue plan, and the State Customs Service - 100.1% (+UAH 0.05 billion).

In total, as of March 2024, the general and special funds of the State Budget received UAH 242.8 billion in taxes, fees and other payments.

January-March 2024

According to the State Treasury Service of Ukraine, in January-March 2024, the general fund of the State Budget received UAH 468.9 billion.

Among the payments controlled by the tax and customs authorities, the main revenues were received from:

  • UAH 109.0 billion in value added tax on goods imported into the customs territory of Ukraine;

  • UAH 96.7 billion –  corporate income tax, of which UAH 49.7 billion was paid by banks;

  • UAH 69.0 billion – value added tax on goods produced in Ukraine  (UAH 101.7 billion collected, UAH 32.7 billion refunded);

  • UAH 44.9 billion - personal income tax and military duty;

  • UAH 39.3 billion - excise tax; 

  • UAH 32.2 billion in dividends from state-owned enterprises;

  • UAH 12.2 billion - import and export duties;

  • UAH 9.4 billion - fee for the use of mineral resources.

In January-March, the State Tax Service performed 113.4% of its revenue plan (+UAH 33.4 billion) and the State Customs Service 106.3% (+UAH 8.1 billion).

The unified social tax revenues to the Pension Fund and social insurance funds in January-March totalled UAH 118.7 billion, of which UAH 42.5 billion was received in March.

In total, in January-March 2024, the general and special funds of the State Budget received UAH 641.1 billion in taxes, fees and other payments.

According to the State Treasury Service of Ukraine, in January-March 2024, the expenditures of the State Budget amounted to UAH 839.1 billion, including UAH 692.0 billion of the general fund.

Actual public borrowings to the general fund of the State Budget in January-March 2024 amounted to UAH 473.6 billion.

UAH 116.3 billion, including UAH 50.0 billion in foreign currency (USD 749.5 million and EUR 509.8 million) was attracted for the financing of the State Budget from the placement of domestic government bonds.

At the same time, UAH 96.4 billion was raised through the placement of war-time bonds.

In particular, UAH 357.3 billion (or USD  9.2 billion) was received from external sources:

  • UAH 54.78 billion (USD 1.4 billion) IBRD Growth Foundations Development Policy Loan through the World Bank mechanism. 

  • UAH 190.1 billion (EUR 4.5 billion) - EU loan under the Bridge Financing mechanism;

  • UAH 57.6 billion (SDR 1.1 billion) from the Government of Canada;

  • UAH 34.6 billion (SDR 663.9 million) of IMF financing is the fourth tranche under the Extended Fund Facility (EFF) Arrangement;

  • UAH 8.9 billion (SDR 229.4 million) from the IBRD loan under the Ukraine Agriculture Recovery Inclusive Support Emergency project (ARISE);

  • UAH 11.25 billion (USD 297.0 million) IBRD loan as part of the financing of the World Bank’s Investing in Social Protection for Inclusion, Resilience and Efficiency (INSPIRE) project.

  • UAH 0.12 billion (EUR 3.0 million) — IBRD loan through the project Health Enhancement And Lifesaving (HEAL Ukraine).

At the same time, public debt repayments in January-March 2024 amounted to UAH 115.3 billion (92.2% of the plan), and service payments - UAH 43.9 billion (88.5% of the plan). 

The funds raised from the placement of domestic government bonds in January-March 2024 allowed to fully cover the need for funds required to make payments on the redemption of domestic government bonds.

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