From January 1, 2025, new requirements will enter into force, obliging entrepreneurs in small settlements of Ukraine to provide the possibility of cashless payments for their customers. This step is part of the strategy for the development of payment technologies in Ukraine and is aimed at ensuring equal access to modern financial services even in remote regions.
According to Resolution No. 894 of July 29, 2022, entrepreneurs working in small settlements must provide their customers with the opportunity to pay for goods and services in a non-cash manner. This means that sellers must ensure that payments are accepted through: Electronic means of payment such as bank cards; Payment applications, for example, Apple Pay, Google Pay and others; Payment devices, including POS terminals and mobile POS systems. According to the new rules, this applies not only to physical stores, but also to entrepreneurs who trade via the Internet, which will make it possible to make the shopping process more convenient and accessible for consumers throughout Ukraine.
According to the resolution, fines are provided for entrepreneurs who do not comply with these requirements: For the first violation — a fine from 1,700 to 3,400 hryvnias; For a repeated violation within a year — a fine from 8,500 to 17,000 hryvnias. These fines are defined by Article 163-15 of the Code of Ukraine on Administrative Offenses and aim to ensure compliance with new standards in the field of non-cash payments.
Despite the fact that innovations are mandatory for most entrepreneurs, the law provides for some exceptions. In particular: FPOs of the first group of the single tax, which have a minimal turnover and are mainly engaged in self-employment; Traders who work with vending machines or carry out away trade; Sellers of self-grown or fattened products. In addition, entrepreneurs working in war zones or temporarily occupied territories are also not obliged to comply with the new requirements. This also applies to those who work in the liberated territories within three months after the end of hostilities. In addition to the requirements for non-cash payments, in December 2023, changes to the military levy were introduced in Ukraine. In particular, the rate of military tax on the income of individuals has been increased from 1.5% to 5%, which applies to all types of income, including wages. A new military levy of 10% of the minimum wage is introduced for individual entrepreneurs (PPOs) of groups I, II and IV of the single tax. This is also accompanied by appropriate reporting.
The changes, which will enter into force on January 1, 2025, will contribute to the development of non-cash payments in Ukraine, even in small settlements. Although the new rules create certain difficulties for entrepreneurs, they also open up new opportunities for the convenience and security of financial transactions. At the same time, the state policy regarding cashless payments helps Ukraine to move in the direction of digitalization and integration of modern payment technologies into everyday life.
