VAT for individual entrepreneurs may not be introduced before 2027 - Finance Ministry

The Ministry of Finance reported that VAT for individual entrepreneurs may not be introduced before 2027.

This is announced in a statement from the Ministry of Finance, Ukrainian News Agency reports.

It is noted that the Ministry of Finance is open to developing a comprehensive solution for VAT for individual entrepreneurs on a simplified system together with business, specialized associations and experts in order to level the playing field and close loopholes for aggressive optimization, business fragmentation and "gray" imports.

The Ministry emphasizes that this is not about the automatic abolition of benefits, but about a balanced approach: to strengthen the fight against shadow schemes and at the same time protect honest small businesses by simplifying administration and reporting for them.

The introduction of possible changes is considered no earlier than 2027 - this is the time for finalizing decisions, public consultations and training entrepreneurs.

As Ukrainian News Agency earlier reported, it was previously reported that the introduction of VAT for individual entrepreneurs is a strict requirement from the International Monetary Fund.