Ukraine's local budgets receive over US$996 million more than last year
The general fund of local budgets received UAH 208.7 billion (about US$5.1 billion) in the first half of 2024, which is UAH 40.4 billion (approx. US$996 million) more than in the same period in 2023.
Source: press service of the Ministry of Finance
According to the report, the primary receipts of the general fund of municipal budgets (excluding intergovernmental transfers) in the first six months of the year were as follows:
- UAH 115.4 billion (about US$2.8 billion) – personal income tax (PIT);
- UAH 33.5 billion (about US$826 million) – single tax;
- UAH 18.5 billion (about US$456 million) – land value tax;
- UAH 14.3 billion (about US$352 million) – corporate income tax for private businesses;
- UAH 12 billion (about US$296 million) – excise tax;
- UAH 4.7 billion (about US$116 million) – property tax.
"The increase in revenues of the general fund of local budgets compared to the same period in 2023 was recorded in the following [oblasts]: Mykolaiv (+30.5%), Vinnytsia (+27.8%), Zakarpattia (+27.6%), Kyiv (+27.3%), and the city of Kyiv (+35.8%)," the press service said.
The ministry noted that the increase in income in these areas is primarily due to the movement of internally displaced persons and businesses from areas where there was fighting, or from territories that were or are temporarily occupied by Russia.
As a result, the lowest income rates are seen in places where there are active hostilities or where Russia has temporarily controlled land, particularly in the oblasts of Donetsk, Zaporizhzhia, Luhansk, and Kherson.
"Thanks to the rapid adaptation to martial law by businesses, state authorities and local governments, the general fund revenues of local budgets increased by 24% compared to the first half of 2023," the report said.
Background:
In the first half of 2024, the gaming industry contributed UAH 8.4 billion (about US$207 million) to the budget in taxes, nearly three times higher than in the same period in 2023.
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