Ukraine budget receives over UAH 194 bln in single social contribution tax since year-start

Ukraine budget receives over UAH 194 bln in single social contribution tax since year-start

Ukrinform
In January-July 2021, Ukrainian taxpayers paid UAH 194.3 billion worth of a single contribution to the compulsory state social insurance, which is UAH 31.8 billion, or 19.6% more year-on-year.

That’s according to the State Tax Service press center, Ukrinform reports.

In July 2021, UAH 29.3 billion was received, which is 20.1%, or UAH 4.9 billion more than in July last year.

The trend testifies to the successful measures taken by the STS toward economy and employment de-shadowing, the report states, adding that this allowed bringing tax-free income out of the shadow.

Read also: Ukraine loses billions annually due to illegal filling stations – Chernyshov

The single social contribution is automatically distributed by the State Treasury Service by type of compulsory state social insurance in accordance with certain proportions and transferred by purpose – to accounts opened in the STS in the name of compulsory state social insurance funds and pension insurance.

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