In Ukraine, the format and deadlines for tax reporting for individual entrepreneurs and legal entities have been revised.

The Ministry of Finance has approved a new form for the tax calculation of personal income tax (PIT) and unified social contribution (USC), and updated the procedure for its completion and submission. From now on, entrepreneurs will be required to submit tax calculations by the 20th of each month, instead of quarterly.

According to the press service of the Ministry of Finance, these changes affect all tax agents, including legal entities and individual entrepreneurs (IE), who pay income to individuals.

These changes align with the tax reform law adopted in the fall of 2024, which, among other things, stipulated a change in the tax period for submitting PIT and USC calculations from quarterly to monthly.

Starting in 2025, tax calculations will be submitted monthly, within 20 calendar days after the end of the reporting month. A transitional period will be in effect until February 10, 2025, during which reports for the IV quarter of 2024 will be submitted using the old form. Reports for January 2025 will be submitted by February 20 using the new form.

The Ministry of Finance noted that the new report form changes its structure and will now include the main calculation along with several appendices: information on USC, details about incomes, data on labor relations, and information about special work experience. Links to the relevant forms have been published on the ministry's website.

The ministry believes that the introduction of a new consolidated reporting form for PIT and USC, with monthly submissions, will enhance the effectiveness of budget revenue control and simplify the reporting process for taxpayers.

Tax Changes in Ukraine - Latest News

On October 10, the Verkhovna Rada adopted in the second reading a law on tax increases. It specifically included an increase in the military tax and an expansion of its payers, as well as a change in the tax period from quarterly to monthly for submitting PIT and USC calculations.

On November 28, President Vladimir Zelensky signed the tax increase law (No. 11416-d). The law came into effect on December 1, 2024. According to the law, the military tax for employees was raised from 1.5% to 5%, and it was also introduced for individual entrepreneurs (1% of income for IEs in group 3 and 10% of the minimum wage for IEs in groups 1, 2, and 4).