Tax and VAT simplifications for the duration or martial law
Ukraine has approved a range of tax simplifications following the Russian invasion and the implementation of martial law. This includes:
- VAT exemption for businesses with an annual turnover of UAH 10 billion (approx €300m)
- No requirement to obtain and hold invoices for VAT deducations
- These businesses’ corporate income tax rate will be reduced from 18% to a unified turnover tax of 2%
- VAT on fuel reduced to 7% from 20%.
- Excise duties on fuel reduced to zero
- VAT exemption on supplies to the army
- Tax and VAT audits are suspended
