Ukrainians have declared foreign business interests worth 760 billion hryvnias
The reporting campaign for controlled foreign companies (CFCs) is currently underway in Ukraine. As of May 1, 2026, owners of foreign businesses have already filed 19,045 reports for the 2025 reporting year, and the total amount of declared income from foreign companies owned by Ukrainian residents has now reached 759.7 billion hryvnias.
This is reported by statistics from the State Tax Service of Ukraine.
Of the aforementioned number of documents, 9,343 reports were submitted in full form, and another 9,702 in abbreviated form. Tax officials note a steady increase in activity and tax compliance among citizens, despite the fact that there are no fines for violations of this reporting requirement while martial law is in effect. For comparison: 13,559 full reports were submitted for the entire year of 2022, 17,615 for 2023, and 18,626 for 2024. Since the current filing season is still ongoing, and full reports can be submitted by the end of the year following the submission of abbreviated reports, the declared income for 2025 is not final (for the entire year of 2024, the total income of CFCs amounted to 2,366.8 billion UAH).
State Tax Service statistics show the following geography of foreign business registration and concentration of Ukrainian capital:
Most popular countries by number of companies: Poland (23.9%), Cyprus (11.3%), the United States (9.8%), the United Kingdom (8.6%), and Estonia (8.0%).
Leaders by volume of monetary capital: Switzerland (18.3%), Poland (14.0%), the United States (10.4%), Cyprus (9.9%), and the Netherlands (6.4%).
According to the analysis, more than half of the declared companies (53.0%) exercised their legal right to income tax exemption due to active business operations (where passive income does not exceed 50%), and another 22.6% are exempt due to having a physical office and staff (Substance) in the country of registration. At the same time, the State Tax Service identified key risks that will be scrutinized during audits: registering businesses in offshore jurisdictions, artificially splitting companies to keep income below the €2 million threshold, and discrepancies with data from the international automatic exchange of information. Currently, businesses are actively taking advantage of the opportunity to correct errors on their own through amended tax returns without penalties, thanks to which 135.1 million hryvnias have already been paid into the budget.
Head of “Forests of Ukraine” Declared Millions in Income and Cash
Also in Ivano-Frankivsk Oblast, the prosecutor’s office is seeking through the courts to recover nearly 387 million hryvnias in damages caused by logging in the “Hutsulshchyna” National Park. The investigation claims that under the guise of sanitary work, over 9,000 trees were destroyed there without the necessary permits and approvals. Now, authorities are attempting to hold the state-owned enterprise “Forests of Ukraine” responsible, to which the relevant forestry enterprise was later merged.
