The State Tax Service closed illegal exchange offices: over UAH 58 million in fines assessed

The State Tax Service cleanses the currency exchange market

According to ХВИЛЯ: The State Tax Service (STS) has carried out measures to cleanse the currency exchange market of illegal players, identifying 20 cases of illegal activity and assessing over UAH 58 million in fines. Over the past year, the STS conducted about 200 actual inspections, finding exchange offices that operated without state registration and the license of the National Bank of Ukraine.

All identified exchange points operated without tax payments to the budget and without the use of cash registers (RRO/PRRO). As a result of the inspections, offenders were assessed over UAH 58 million in penalties. All illegal currency exchange points were closed within three weeks, demonstrating the STS's determination in combating illegal financial operations. The results of these measures highlight the importance of complying with legislation in the field of currency exchange and controlling financial operations in Ukraine.

Strategy to combat the shadow economy

These actions by the STS are part of a broader state strategy to combat the shadow economy and ensure the transparency of financial operations. Cleansing the currency exchange market of illegal players aims to protect consumers and increase the level of trust in legal financial institutions.

In the future, similar actions may contribute to improving financial stability and reducing risks for investors in Ukraine.