Recently, Ukrainian media have been actively discussing legislative changes to the tax and customs codes required to secure an IMF loan of $8.2 billion over four years. Beyond this package, access to €90 billion in funding from the EU is also at stake.
The proposed reforms fall into three main categories: painful but reasonable (tax on parcels and digital platforms), strange and unclear (restrictions on sole proprietors—FOPs—participating in state tenders and requiring labor contracts instead of FOPs), and the most controversial—introducing VAT for FOPs with a very low turnover threshold.
Abolishing the duty-free threshold for parcels worth up to €150 and imposing taxes on digital platform incomes, along with import restrictions, may affect the currency market and offer protection for domestic businesses. However, banning FOPs from participating in public tenders appears contradictory, especially as the country prepares for large-scale reconstruction.
Switching from FOPs to labor relationships could theoretically improve social contributions, but under the current fiscal pressure, no fundamental changes are expected. The most criticized is the proposal to introduce VAT for FOPs with a low turnover threshold—which could lead to the destruction of small businesses, increased accounting costs, and possible closures.
Politically, it is proposed to fix the military tax rate at 5% permanently, regardless of IMF requirements, adding extra burden for businesses. The initiative also raises questions about responsibility within the government and parliament in the context of financial challenges and war.
Experts emphasize the need for a deeper and more systematic approach to reforms, with greater inclusion of small business and public perspectives. Financial policy changes should not create unnecessary obstacles for those who genuinely generate value and sustain the economy through difficult times.