Ruslan Kravchenko: State Tax Service exceeded revenue plan for the first quarter of 2025 by 36 billion UAH and by 14 billion UAH in March

Press service of the State Tax Service of Ukraine, published 31 March 2025 at 20:13 Chapter: News

State Tax Service of Ukraine exceeded its revenue plan for the first quarter by 36 billion UAH (+12.9% compared figures of the Ministry of Finance). Revenue figures were exceeded by 14 billion UAH in March. This was informed by Head of the State Tax Service of Ukraine Ruslan Kravchenko on his Facebook page.

General fund of the state budget received more than 160 billion UAH of payments controlled by the State Tax Service in March. This is 9.6% more than planned and 48.7% more than in March 2024. 

There are exceeded indicators from basic payments:

+ 11,3% – personal income tax (actual 27.1 billion UAH);

+23.5% – VAT (actual 26.1 billion UAH);

+5.9% – corporate income tax (actual 86 billion UAH);

+5.1% – excise tax on Ukrainian products (actual 10.1 billion UAH).

"Positive dynamics of increasing revenues from the excise tax on imported products continues (+ 48.6% compared to the plan or 1.3 billion more UAH). Since the beginning of year, we have been refunding significant VAT amounts every month, namely 13.8 billion UAH in March. This is 23.7% more than in March 2024. During the quarter, 30% more was refunded than in the first quarter of last year" – added Ruslan Kravchenko.

He additionally noted that the number of suspended tax invoices is decreasing. We already have indicator of 0.37%. More than 11 thousand enterprises have been removed from the list of risky ones since the beginning of year.

In total, the Tax Service exceeded the Ministry of Finance’s targets by 36 billion UAH for the first quarter of 2025. Total amount of revenues amounted to 315.1 billion UAH (+12.5% ​​compared to the same period in 2024).

What does this mean in the real terms?

These funds are, for example, the cost of: 

- more than 1 million Ukrainian-made FPV drones (based on the average cost of a drone of 30 thousand UAH) or much more that our country needs in today’s difficult conditions.

"Amount of funds that have been added to the budget in the first quarter means that the country is demonstrating stable tax revenues, which strengthens trust in it from donors, investors and partners" – said Ruslan Kravchenko.     

Important: such a significant result was achieved even despite the transfer of part of revenues from 2025 to the previous period. In particular, in 2024, banking institutions paid almost 13 billion UAH of income tax in advance – these funds should have been transferred in March 2025.