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In May, the corporate income tax covered more than a quarter of the revenues of the general fund of the State Budget

04 June 2024

According to the State Treasury Service of Ukraine, in May 2024, the general fund of the State Budget received UAH 151.8 billion.

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

  • UAH 42.1 billion - corporate income tax.

  • UAH 38.6 billion in value added tax on goods imported into the customs territory of Ukraine;

  • UAH 20.2 billion - value added tax on goods produced in Ukraine  (UAH 32.9 billion collected, UAH 12,7 billion refunded);

  • UAH 17.5 billion - personal income tax and military duty;

  • UAH 17.2 billion - excise tax;

  •  UAH 5.4 billion - fee for the use of mineral resources;

  • UAH 3.9 billion - import and export duties;

At the same time, the State Tax Service performed 106,9% (+ UAH 6,4 billion) of the monthly revenue plan, and the State Customs Service - 112.1% (+UAH 5.2 billion).

In total, as of May 2024, the general and special funds of the State Budget received UAH 229,1 billion in taxes, fees and other payments.

January-May 2024:

According to the State Treasury Service of Ukraine, in January-May 2024, the general fund of the State Budget received UAH 775,4 billion.

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

  • UAH 186.9 billion in value added tax on goods imported into the customs territory of Ukraine;

  • UAH 142.0 billion –  corporate income tax;

  • UAH 112.4 billion – value added tax on goods produced in Ukraine  (UAH 169.7 billion collected, UAH 53.7 billion refunded);

  • UAH 79.2 billion - personal income tax and military duty;

  • UAH 72.8 billion - excise tax; 

  • UAH 32.4 billion – dividends from state-owned enterprises;

  • UAH 20.1 billion - import and export duties;

  • UAH 20.1 billion - fee for the use of mineral resources.

In January-May, the State Tax Service performed 111.3% of its revenue plan (+UAH 44.7 billion) and the State Customs Service 109.1% (+UAH 19.6 billion).

Along with the National Bank of Ukraine, which allocated UAH 38.6 billion of its profit to the State Budget in May this year, another important source of State Budget revenues was the funds received by Ukraine in the form of international assistance (grants) - UAH 40.3 billion.

The unified social tax revenues to the Pension Fund and social insurance funds in January-May amounted to UAH 208.2 billion, of which UAH 45.0 billion was received in May.

In total, in January-May 2024, the general and special funds of the State Budget received UAH 1,074.8 billion in taxes, fees and other payments. In January-May 2024, the expenditures of the State Budget amounted to UAH 1,544.5 billion, including UAH 1,257 billion of the general fund.

Actual public borrowings to the general fund of the State Budget in January-May 2024 amounted to UAH 612.0 billion.

UAH 189.5 billion, including UAH 56.7 billion in foreign currency (USD 749.5 million and EUR 665.7 million) was attracted for the financing of the State Budget from the placement of domestic government bonds.

At the same time, UAH 129.7 billion was raised through the placement of war bonds.

In particular, UAH 422.5 billion (or about USD 10,8 billion) was received from external sources:

  • UAH 253.5 billion (EUR 6.0 billion) - EU loan under the Bridge Financing mechanism;

  • UAH 54.93 billion (USD 1.4 billion) IBRD Growth Foundations Development Policy Loan through the World Bank 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 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 8.9 billion (SDR 229.4 million) from the IBRD loan under the Ukraine Agriculture Recovery Inclusive Support Emergency project (ARISE);

  • UAH 0,79 billion (USD 20,0 million) надходження коштів позики МБРР в рамках проекту “Social Safety Nets Modernisation Profect”;

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

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