Tax on OLX: What Will Change for Millions of Ukrainians
According to hvylya.net: Ukraine is preparing to integrate into the global tax transparency system by implementing international automatic information exchange on income earned through digital platforms and changing tax rules for online sellers. Bill No. 14025, known as the 'tax on OLX', has received support from the Parliamentary Committee on Tax Policy.
Main changes and goals of the bill:
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Automatic data exchange: Obligation to report user income to digital platforms.
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De-shadowing and budget filling: An increase in budget revenues is expected due to the new tax rules.
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Consideration in Parliament: The bill is being prepared for consideration in the Verkhovna Rada.
Key amendments from the Committee:
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Tax exemption increased: The tax-free income for sellers through platforms has been raised to €2000 per year.
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Condition for entry into force: The law will come into effect after signing the agreement on automatic information exchange.
Nuances and tips for online sellers
Committee member Yaroslav Zheleznyak emphasizes that the new law will help avoid problems with adult content and create additional opportunities for law enforcement.
Useful tips for online sellers:
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Watch the limit: Do not exceed the tax-free limit of €2000 per year.
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Differentiate business from personal: The law regulates commercial activity, not private sales.
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Adapt to transparency: Comply with the legislation and use the tax exemption regime.
Ukraine is working on integrating into the global tax system by implementing new tax rules for online sales and increasing tax transparency.
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