From the first hryvnia of income: a tax law for online sellers is being prepared for Ukrainians.

The Ministry of Finance has come up with an initiative to introduce a bill that provides for the continuous provision of information about all sellers online to the tax service.

According to Nina Yuzhanina, a member of parliament, this bill concerns users of virtual platforms such as OLX, Prom, ROZETKA, and others.

'According to this bill, such online platforms will act as tax agents and are required to withhold personal income tax and military duty from the profits received by individual sellers,' she explained.

Nina Yuzhanina also noted that the Ministry of Finance has ignored the approach of the European Union and the Organisation for Economic Co-operation and Development, which set minimum thresholds for providing data. In the EU, reports are made on sellers who have performed more than 30 transactions or received more than 2000 euros in income per year.

According to the deputy, the Ministry of Finance of Ukraine intends to transmit information about all transactions and tax all funds of individuals, regardless of the amount.

Remember, Ukrainians have begun to be fined for online sales.