Ukraine’s state budget receives customs payments worth UAH 51.1B in Aug 2024

Last month Ukraine’s state budget received UAH 51.1 billion worth of customs payments, which is UAH 3.2 billion higher compared to July 2024.

The relevant statement was made by the Ukrainian State Customs Service, an Ukrinform correspondent reports.

“In August 2024, the State Customs Service completed the budget revenues target at 92.2%. Thus, a total of UAH 51.1 billion worth of customs payments were transferred to the state budget. In contrast to the previous month, the budget revenues increased by UAH 3.2 billion,” the report states.

According to the State Customs Service, one of the key factors influencing the result was the increased amount of customs benefits, totaling UAH 17.8 billion. This included the newly introduced ‘energy saving benefits’, totaling UAH 1.35 billion. By comparison, during the same period of 2023, the customs benefits amounted to UAH 15.7 billion.

At the same time, the volume of taxable imports significantly reduced compared to January-August 2023. In particular, the import of certain fertilizers decreased by 20%, light motor vehicles – by 24%, and rolled metal – by 29%.

Since early 2024, the projected budget revenues have been completed at 103.3%, which allowed the State Customs Service to transfer an additional UAH 12 billion to Ukraine’s state budget.

A reminder that, in January-August 2023, Ukraine’s customs authorities transferred towards the state budget UAH 42.56 billion worth of payments from businesses and individuals.