In 2024, Ukraine's state budget faced a shortfall of 61 billion from VAT, according to media reports.

Last year, the annual target for value-added tax collection was achieved at only 92%, resulting in a shortfall of 61 billion UAH from the planned amount. Overall, in 2024, the targets for most key taxes were not met.

This is mentioned in a report by Forbes Ukraine.  

It is noted that the highest level of underperformance in the annual plan was recorded for rent payments for mineral extraction. This tax fell short by 12%, which amounts to 6 billion UAH in monetary terms.

In absolute figures, the largest shortfall was recorded for value-added tax. Specifically, the annual plan for VAT on imported goods was not met by 40 billion UAH (8%), while the internal VAT fell short by 21 billion UAH (7%).

The shortfall in the general fund for personal income tax and military levy amounted to 10 billion UAH (4% of the annual plan) due to the delayed enactment of the corresponding law, which came into effect only in December instead of October.

On the other hand, the annual target for corporate profit tax collection was exceeded by 31 billion UAH (13%), made possible by the extension of the increased 50% rate for banks.

Additionally, a surplus was recorded for excise tax – by 3%, or 6 billion UAH.

Background. Previously, Mind reported that state budget expenditures in December 2024 rose to a record amount. Last year, the state budget received 3.12 trillion UAH in revenue, which is 448 billion UAH more than the 2023 state budget figures.