GOOD LEGAL SOLUTIONS | LAW FINANCE TAX | GLS |

The State Tax Service of Ukraine has summarized the results of the 2024 income declaration campaign. The numbers are striking: Ukrainians declared UAH 326 billion in income — UAH 107 billion more than the previous year.

GLS Law highlights key figures and explains the context behind them.

📌 Headline Figures:

• Over 170,000 tax declarations submitted.
• Self-declared tax liabilities:
  • Personal Income Tax (PIT): UAH 8.1 billion;
  • Military Levy: over UAH 1.5 billion.

This indicates not only rising income levels but also improved tax compliance across the population.

📍 Geography of Income:

Highest declared incomes came from:

• Kyiv — UAH 156 billion
• Dnipropetrovsk Region — ~UAH 30 billion
• Lviv Region — UAH 18.2 billion
• Kyiv Region — UAH 17.5 billion

These regions traditionally lead in terms of capital flows, investment, and business activity.

💼 What Were the Income Sources?

Breakdown of declared income:

• Foreign income — UAH 34.2 billion
• Inheritance and gifts — UAH 13.6 billion
• Sale of property — UAH 6.8 billion
• Investment income — UAH 4.9 billion
• Other income — UAH 4 billion
• Property rental — UAH 3.4 billion

Notably, foreign income showed significant growth — indicating increased global economic activity among Ukrainians, including foreign salaries, dividends, and income from offshore entities.

💰 Millionaire Boom:

• Over 17,000 individuals declared over UAH 1 million in income.
• That’s 6,600 more than the previous year.
• Total millionaire-declared income — UAH 253.6 billion.
• Tax liabilities: UAH 8.7 billion.

📌 The record: a Kyiv resident declared over UAH 4.6 billion in PIT and military levy due.

🔄 Tax Deductions:

• 53,000 taxpayers applied for a tax discount.
• Total refunds: UAH 330 million — UAH 36 million more than in 2023.

🎯 GLS Law’s Takeaways:

The 2024 campaign signals change: tax transparency, global income growth, increased use of inheritance and investment instruments — all of this demands flexible tax planning and support.

GLS Law offers:

• Assistance with foreign income declaration;
• CFC (Controlled Foreign Company) reporting;
• Asset structuring;
• Tax planning for high-net-worth individuals.

Not sure how to report your income, file a CFC report, or structure your assets? GLS Law is here to help.