Business entities registered on the simplified taxation system transferred 845.9 million UAH of the single tax to local budgets of Kharkiv region from the beginning of 2020. This is 95.5 million UAH more than during the 1st quarter of 2019.
Single tax is a taxation system that small business representatives willingly choose. Therefore, a large proportion of revenues is provided by business entities – individuals. During the three months of 2020, they paid 634.0 million UAH. Revenues growth is 79.8 million UAH (+ 14.4%) comparing to 2019.
It should be noted that the single tax is directed in the full amount to local budgets, so that the territorial communities have the opportunity to use funds for their development.