Despite the pandemic and lockdown, the individual entrepreneur economy managed to exceed expectations.
8 February 2021
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Working conditions brutally changed for Ukrainian individual entrepreneurs when the pandemic hit. Lockdowns prompted closures and mass lay-offs. Still, the Ukrainian individual entrepreneur economy managed to show surprising results in 2020.
Ukrainian entrepreneurs paid UAH 27.6 billion in taxes that year, 19% up y-o-y.
|Single tax paid by individual entrepreneurs, UAH||1,027,122,204||3,608,477,536||4,896,213,481||5,404,395,280||6,744,439,758||10,326,543,405||15,447,070,417||19,875,616,049||24,952,737,624||27,626,572,165|
Every Ukrainian individual entrepreneur pays UAH 15,000 on average in single tax annually.
Over the past nine years, budget revenue they generate increased by the factor of 27, and it keeps gaining UAH 3 billion every year.
|Individual entrepreneurs in Ukraine||1,982,787||1,876,493||1,765,457||1,840,461||1,888,891||1,911,406|
In 2020, the individual entrepreneur headcount remained largely unchanged. Presently, there are 1.9 million registered individual entrepreneurs in Ukraine, against last year’s 1.88 million. The figure is rising slowly: in 2020, it rose by 2,000 monthly.
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