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12:59 10 Aug 2022

"Google tax" brought about $76 million to Ukraine's budget

Thanks to the "Google tax," Ukraine attracted about 76 million dollars to the state budget

The People's Deputy, Chairman of the Ukrainian parliament's committee on finance, tax, and customs policy Danylo Hetmantsev, announced this on Telegram.

As he noted, the deadline for submitting declarations on the "Google tax" ended on August 9.

The "Google Tax" is a VAT that large international corporations must pay for electronic services provided in Ukraine.

The total amount declared is about 76 million dollars. Taxpayers are 53 large companies.

Most of them declared:

  • Google;
  • Apple;
  • Facebook;
  • Instagram;
  • Onlyfans.

"Thanks to the implementation of modern European norms on the taxation of electronic services, the army received significant funding for the war.

None of the payers and consumers of services went bankrupt, despite the predictions of marginal "experts" from social media," Hetmantsev summarized.

We will remind you that in June of last year, the Verkhovna Rada adopted draft law No. 4184, which, in particular, obliges Internet giants operating in Ukraine to pay taxes to the Ukrainian state budget.

The legislation, in particular, provides that international companies operating in the information space of Ukraine and making money from online advertising will pay taxes in Ukraine, particularly VAT.

At the same time, it is emphasized that the project will not concern a simple user of social networks and search services.

Danylo Hetmantsev spoke about introducing a "Google tax" in Ukraine in 2016. Then, on the Taxlink.ua platform, he stated that introducing such taxation is not only possible but also necessary.

"Large international corporations, operating on the Internet, are deliberately evading taxation by using loopholes in national tax legislation. It's a lot of money! It's unfair to citizens and harmful to budgets, directly contradicts national interests," he said.

Read Rubryka's daily timeline of war: current news on Ukraine's defense against russia's aggression.

Category:
Economics

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