Penalties for non-payment of taxes in Ukraine: how they are determined and when to pay them

Failure to pay taxes in Ukraine can result in significant financial losses. Legislation provides for penalties depending on the period of delay, as well as penalties for individual entrepreneurs who have not paid the unified tax in time. Let's consider the details of penalties and the algorithm of their calculation.

Let us consider the details of penalties and the algorithm of their calculation.

Let's look at the details of penalties and the algorithm for calculating them.

Main penalties for failing to pay taxes

According to the State Tax Service of Ukraine (STS), the amount of the penalty depends on the length of the delay:

• 5% — for delay in payment up to 30 days.
• 10% - if the delay exceeds 30 days.
• 25% - for willful tax evasion.

Important! If the money for tax payment is transferred from an electronic account and credited on the next day, the penalties do not apply.

Penalty for FLPs for delayed payment of single tax

FLPs who are late in paying the single tax are obliged to pay a penalty. It starts to accrue 90 calendar days after the last day of the due date for payment of tax.

The penalty is calculated on the basis of the formula for calculating the penalty for late payment of single tax.

Formula for calculating the penalty:

$$P = C \times Kd \times Us \div K$$C×Kd×Us÷K

• P — penalty amount.
• C — amount owed (UAH).
• Kd - number of days of delay.
• US - the higher of the NBU discount rates on the day of tax debt incurrence or repayment.
• K - number of days in a calendar year.

This formula allows you to take into account the dynamics of the debt and adapt the calculations to changes in discount rates.

Fines in the context of the new year

As of January 1, 2024, entrepreneurs were expected to face stricter tax controls, including penalties for violations. Specifically:

• Delay in paying tax accrues a penalty automatically.
• Entrepreneurs may face additional audits in case of systematic delays.

In the third quarter of 2024, the budget received more than 3.1 billion hryvnias from the payment of taxes, including penalties and fines. This indicates the strengthening of control and increased attention to tax violations.

And this is a sign of increased attention to tax violations.

What's worth knowing

Non-payment of taxes is a serious offense that can lead to fines, penalties and even tax audits. To avoid financial losses:

• Pay your taxes on time.
• Control payments from your e-account to avoid timing errors.
• In case of delay, contact a tax advisor to minimize risks.

The new year brings new challenges for entrepreneurs, so meeting tax obligations on time becomes even more important.