Published 29 January 2020. Some rules have changed since; ask us for the current position.
The amendment to Draft Law No. 1210 is as follows: the income limits for single tax groups 1, 2 and 3 are raised to UAH 1 million, UAH 5 million and UAH 7 million respectively. This measure will allow Ukrainian small businesses to grow faster and show stronger results. It is justified because the minimum wage has risen over all the years the limits stayed unchanged, while the limits themselves were never indexed in line with that growth. The initiative was supported by 340 members of the Verkhovna Rada.
Now even more entrepreneurs will be able to use the simplified taxation system (спрощена система оподаткування). The initiative will also help bring Ukrainian business out of the shadows.
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