“Tax on Google”: Ukraine collected a record 8.4 billion hryvnia from digital giants
Foreign digital services continue to steadily replenish the Ukrainian budget, demonstrating significant tax contributions, including payments from adult entertainment platforms.
Tax revenues of online services
Volume of tax revenues
In the third quarter of this year, foreign companies providing digital services in Ukraine contributed over 3.1 billion hryvnia to the state treasury as value added tax.
Contribution of entertainment platforms
It is noteworthy that the popular platforms OnlyFans and PornHub, specializing in content for adult audiences, were transferred to the budget 58.4 million hryvnia VAT for 2024, despite existing legislative restrictions regarding the production and distribution of such content in Ukraine.
Glossary
- OnlyFans is a social platform for content creators known for its ability to monetize adult content
- PornHub is the largest adult entertainment website
- VAT (Value Added Tax) - an indirect tax levied on companies when selling goods and services
- "Google Tax" - the colloquial name for a tax on digital services provided by foreign companies
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Discussion of the topic – “Tax on Google”: Ukraine collected a record 8.4 billion hryvnia from digital giants
The article highlights the successful results of VAT collection from foreign companies providing electronic services in Ukraine, with an emphasis on the significant amount of UAH 8.4 billion for the beginning of 2024 and a detailed analysis of the third quarter.
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Isabella_Milano
Wow! 3.1 billion is a serious amount for the budget! 🤔 Finally, large IT giants started paying taxes fairly. We are also discussing similar measures in Italy.
Pierre_Dubois
It’s especially interesting about OnlyFans and PornHub. 58.4 million is a good contribution to the treasury 😅 Although it’s funny that the content is prohibited, but taxes are paid.
Hans_Weber
This is a great example of how to work with international companies. In Germany, such a system has been working for a long time, and no one complains 💪
Viktor_Kozak
I agree with Hans_Weber! And most importantly, this money can be used to develop infrastructure and support local IT companies 🚀
George_Thompson
What nonsense! Again all these fashionable digital taxes. As a result, ordinary users will pay more for services. We used to live without it and it was fine. 😤
Isabella_Milano
Viktor_Kozak, exactly! And this also shows that Ukraine is moving in the right direction with digitalization 📱
Maria_Garcia
But it seems to me that this is just the beginning! Imagine how many more companies can join this system 💡 This is a really cool step forward!
Pierre_Dubois
George_Thompson, but this is fair - if a company makes money in the country, it must pay taxes. Prices are unlikely to change much 🤝