According to the new regulations established by Cabinet Resolution No. 894 dated July 29, 2022, all businesses in cities with a population exceeding 5,000 must accept cashless payments for goods and services. This includes the acceptance of payments through digital applications and other electronic methods.
Some businesses will be exempt from this requirement. Specifically, individual entrepreneurs classified as Group I under the single tax system, those who sell through vending machines, engage in street trading, or sell their own farm produce, are not subject to this rule.
These obligations do not apply to areas currently experiencing combat or occupation. Entrepreneurs who fail to implement cashless payment options will face fines as stipulated in Article 163-15 of the Code of Ukraine on Administrative Offenses. The fines range from 1,700 to 17,000 hryvnias, depending on the frequency of violations.
Another financial change: starting December 2024, the military tax on personal income will increase to 5%. Additionally, a tax of 10% of the minimum wage will be introduced for individual entrepreneurs in Groups I, II, and IV.