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The State Tax Service of Ukraine demonstrates positive dynamics in value-added tax (VAT) revenues to the state budget. According to the results of the first five months of 2025, the tax office exceeded the VAT plan by 9.5%, which in absolute terms is more than 11.7 billion hryvnias. The total amount of revenues after budget reimbursement amounted to 134.4 billion hryvnias, the press service of the State Tax Service of Ukraine reports.
For comparison, for the same period in 2024, revenues were 22 billion less, or 19.6%. Thus, this year's implementation of the VAT plan amounted to 109.5%, which is a significant improvement in the country's fiscal dynamics.
In May 2025, VAT revenues from domestic transactions amounted to UAH 21.7 billion, or 93.4% of the planned figure. The tax authority explained that these results were influenced by several objective factors. First, a record VAT refund was recorded in May - UAH 15.5 billion, which is UAH 2.5 billion higher than the average monthly level. Second, an increase in imports led to an increase in the tax credit, which reduced VAT accrual in the domestic market.
In addition, seasonal fluctuations in the economy - in particular, a decline in business activity, a decrease in transportation, as well as the impact of military operations on the energy and mining sectors - further limited the potential for domestic VAT revenues in May.
In total, since the beginning of 2025, the tax authority has reimbursed UAH 70.9 billion in VAT, which is the highest figure in recent years and more than 25% more than in the same period in 2024.
It should also be noted the overall overfulfillment of the state budget revenue plan. Over the first five months of this year, the budget received more than UAH 520.5 billion, which is UAH 51.8 billion more than planned — an increase of 11%. These results indicate the stable functioning of the tax system in wartime conditions and the improvement of tax administration.
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