Finance Ministry Unveils Major Tax Bill Introducing New VAT Rules and Revenue Measures

Mandatory VAT registration for simplified-system entrepreneurs with annual revenues from UAH 4 million, effective January 1, 2027.
VAT reporting period for single tax payers set as a calendar quarter, with minimal penalties (UAH 1) for first five violations in 2027.
Right to compile consolidated tax invoices for supplies to non-VAT payers, due by the last day of the month.
Special VAT rules for imported parcels: VAT exemption for parcels up to EUR 45 for personal/family use; new rules for parcels up to EUR 150 purchased via electronic interfaces.
The bill aligns with IMF commitments and aims to increase state budget revenue by UAH 60 billion annually.

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