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The state budget will receive $76 million from the "tax on Google"

Tax on Google: companies will pay $76 million to the budget for the first quarter. Photo: Pixabay

Tax on Google: companies will pay $76 million to the budget for the first quarter. Photo: Pixabay

The implementation of the value-added tax on services provided to Ukrainians by global Internet giants that don’t have a registered office in the country (the so-called "Google tax") resulted in the state budget receiving almost $76 million. These results from the payment of this tax for the first quarter of 2022 have been voiced by Danylo Hetmantsev, the head of the Parliamentary Committee of the Verkhovna Rada Tax and Customs Policy.

Quote"Yesterday was the deadline for filing tax returns for the tax on Google. It is a VAT which has become payable by large multinational corporations providing electronic services in Ukraine this year. The total declared amount for the first quarter is approximately $76 million," he wrote on his Telegram channel.

A total of 53 large companies declared the payment of this tax. The largest amounts have been paid by Google, Apple, Facebook, Instagram, and OnlyFans.

August 9 was the last day for submitting tax returns for the tax on Google. The companies must pay the declared amounts within 30 days, which means the deadline is set for September 8.

Context. The law on the "tax on Google" was adopted by the Verkhovna Rada on June 3, 2021. Companies like Facebook, Netflix, Steam, and certain services like Apple and Amazon will have to pay a 20% tax. The law was signed by President Volodymyr Zelenskyy on June 29, and it entered into force on July 2, 2021.

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