Ukraine collects nearly $40 billion in taxes, relies heavily on VAT for budget

Most tax revenue in Ukraine comes from social tax, personal income tax and value-added tax. Combined, taxes account for 79% of the country’s state budget revenue, or $31 billion.

In 2020, Ukraine collected $38.5 billion through tax and non-tax revenue. Much of it came from value-added tax on both imported and domestic goods — 37.2%. The state budget approaches $50 billion; the remainder is financed by borrowing.