Increase in Single Social Contribution Revenues in 2024: Details and Opportunities for Taxpayers
In the current year, Ukrainian taxpayers have made a significant contribution to the country’s social stability by transferring over 423.5 billion hryvnias to the Single Social Contribution Fund (ЄСВ) since the beginning of the year.
This marks an increase of nearly 77.2 billion hryvnias or 22.3% compared to last year, indicating a notable boost in economic activity and strengthening of the social sector.
In the first eight months of 2024 alone, collections amounted to 346.3 billion hryvnias, providing insight into the trajectory of growth.
An important update is that employers who hire persons with disabilities are eligible to pay ЄСВ at preferential rates, significantly reducing their financial burden.
According to current legislation, the rate for such employers is 8.41% if they employ persons with disabilities without restrictions; 5.5% if the number of employed disabled persons constitutes at least half of the total workforce and their wages account for no less than 25% of total labor costs.
There is also a reduced rate of 5.3% for enterprises working with UTOG and UTOS organizations, subject to certain conditions.
Furthermore, it is noteworthy that individual entrepreneurs with disabilities, those engaged in independent professional activities, and members of farming households with appropriate status are exempt from ЄСВ payments if they receive a pension or social assistance.
This exemption alleviates financial pressure for specific categories of citizens, fostering social support and entrepreneurship development within the country.