Ukraine budget receives over UAH 194 bln in single social contribution tax since year-start

(MENAFN- UkrinForm) In January-July 2021, Ukrainian taxpayers paid UAH 194.3 billion worth of a single contribution to the compulsory state social insurance, which is UAH 31.8 billion, or 19.6% more year-on-year.

That's according to the State Tax Service press center , Ukrinform reports.

In July 2021, UAH 29.3 billion was received, which is 20.1%, or UAH 4.9 billion more than in July last year.

The trend testifies to the successful measures taken by the STS toward economy and employment de-shadowing, the report states, adding that this allowed bringing tax-free income out of the shadow.

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The single social contribution is automatically distributed by the State Treasury Service by type of compulsory state social insurance in accordance with certain proportions and transferred by purpose to accounts opened in the STS in the name of compulsory state social insurance funds and pension insurance.

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