“Earlier, the Ministry of Finance published a draft law on the introduction of VAT for FOPs from 2027.”, — write: www.unian.ua
Earlier, the Ministry of Finance published a draft law on the introduction of VAT for FOPs from 2027.
Sobolev added that the changes will take effect only in 2027 / photo ua.depositphotos.comThe draft law on value added tax for individual entrepreneurs will be finalized. This was announced by Economy Minister Oleksiy Sobolev in an interview with LIGA.net.
“We see that the issue of VAT for sole proprietorships with an income of more than UAH 1 million causes tension in business. Therefore, together with the Ministry of Finance, we are currently conducting consultations with business, experts and analytical centers. We have to balance support for entrepreneurs and what is in the obligations with the IMF,” said the Minister of Economy.
Sobolev added that the changes will enter into force only in 2027, and the published version of the draft law is only a basic working version.
Further decisions concerning individual entrepreneurs will be coordinated together with business representatives and the Ministry of Finance. It is assumed that there will be a corresponding “threshold”, a transition period and exceptions that will avoid additional bureaucracy.
Draft law on VAT for FOPs – what is known In December, the Ministry of Finance published a draft law on the introduction of value added tax for individual entrepreneurs from 2027. According to MP Yaroslav Zhelezniak, the draft law proposes to establish from January 1, 2027, mandatory registration of FOPs as VAT payers in the event that the total amount from transactions for the supply of goods or services during the year exceeds one million hryvnias.
Based on last year’s data, the new rules will affect more than 650,000 single tax payers – mostly second and third group self-employed persons. The cancellation of benefits for FOPs regarding the payment of VAT is one of the requirements of the IMF necessary for the implementation of the new support program.
According to experts, the introduction of VAT for self-employed entrepreneurs may lead to a decrease in public welfare. Total losses are estimated at 150-180 billion hryvnias, which is about 1.5-2% of GDP.
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