According to the results of 2019, the amount of 4.3 billion UAH of the personal income tax was paid from the legal income of Volyn citizens. Almost 1.1 billion UAH of the PIT was transferred to the state budget and the rest of revenues were available to the local communities.
“According to the results of 2019, growth of the PIT revenues was recorded at 19.4%, so that we have reason to expect an optimistic outlook for positive revenue dynamics in the new fiscal year. Increase of social standards and active counteraction against illegal employment done by the STS are also among the factors that should positively affect the PIT, military levy and single social contribution to compulsory state social insurance. We hope that Volyn employers will comply with the requirements of the law in the sphere of employment and will not ignore their obligation to pay the so-called salary taxes in a timely manner and full amount” – stated acting head of the Main Directorate of the STS in Volyn region Oleh Hyrykovych.
Tax official emphasized that it is the personal income tax that is budgeting for communities. Therefore, local self-government leaders should pay the utmost attention to the issues of formal employment of workers in community-based business projects.
“In addition, at the beginning of the new year, citizens who received income from which taxes were not paid last year in the declaration must be maximally involved in declaration campaign. For example, in rural areas, many citizens provide land-use services with their own machinery, subsequently they have income from the sale of movable or immovable property or lease property or equipment. Declaring such income, corresponding payment of the PIT will allow communities to replenish their own financial resources to address their socio-economic issues” – summarized Oleh Hyrykovych.
It should be reminded that the income declaration campaign has started from the 1st of January 2020. The annual income tax declaration for the past year must be filled and submitted by the 1st of May 2020 by the citizens who received income from which the personal income tax was not paid last year. STS specialists at the Taxpayer Service Centers will help to fill in and file the income declaration correctly.
Schedule of the Taxpayer Service Centers can be found on the website of the territorial bodies of the State Tax Service in Volyn region by the link: vl.tax.gov.ua in the banner “Taxpayer Service Centers”.