Main points
- Individual entrepreneurs must keep an income accounting book in any form, but it does not need to be registered with the tax office.
- Fines ranging from 1,020 to 2,040 hryvnias are provided for improper storage of documentation and failure to submit it to regulatory authorities.
Accounting for income of individual entrepreneurs in Ukraine / Photo by Pexels
Ukrainians who are individual entrepreneurs must keep an income book, despite the fact that it is currently not required to be registered with the tax service.
What is known about accounting for individual entrepreneurs' income in 2026?
In particular, this book has an arbitrary form, as stated on the Taxer website.
In addition, you should also know the following nuances:
- the book can be kept both in paper and electronic form;
- From 2021, entries in the book can be made by reflecting the income received on a monthly basis.
Important! At the same time, the paper book that was registered with the tax office must be kept for at least three years.
In 2020, rumors spread that the accounting book had been canceled. But in reality, it was the old printed income accounting book and the obligation to register it with the tax office that were canceled.
Another thing to note: an income accounting book is mandatory for all groups of sole proprietors. However, the requirements for it have been simplified for most entrepreneurs.
For example, individual entrepreneurs of groups 1 and 2, as well as individual entrepreneurs of group 3 without VAT, can keep records in any convenient form. The main thing that they are required to do is to reflect their income on a monthly basis.
If the taxpayer does not ensure proper storage of primary documentation, accounting registers, accounting and statistical reporting within the specified time limits, or does not provide the controlling authorities with the originals of these documents or their copies during tax control in cases provided for by law, then a fine of 1,020 hryvnias will be imposed on him.
In case of repeated actions, the fine increases to 2,040 hryvnias . 7eminar writes about this.
Please note! Currently, individual entrepreneurs must keep records of income taking into account the requirements of Article 44 of the Tax Code of Ukraine.
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What else should entrepreneurs in Ukraine know?
- We remind you that individual entrepreneurs in group 1 can work without a cash register. This also applies to other groups of individual entrepreneurs if their services are paid for remotely.
- At the same time, the registration of an individual entrepreneur alone does not affect the insurance experience of Ukrainians. In order to receive a pension, a person must pay a single social contribution (or their employer must do so) and regularly submit relevant reports.