...

Number of Official Millionaires in Ukraine Climbs to 17 000

by Roman Cheplyk
Wednesday, June 18, 2025
2 MIN
Number of Official Millionaires in Ukraine Climbs to 17 000

Latest tax-return campaign shows ₴254 billion in high-earner income and a record-high ₴474 billion in total declared earnings

Key Figures for the 2025 Declaration Campaign

Indicator 2025 campaign* 2024 campaign Δ YoY
Registered millionaires (income ≥ ₴1 m per year) 17 000+ ~15 700 +1 300
Income declared by millionaires ₴254 bn n/a
Total personal income declared ₴474 bn ₴380 bn +₴93.5 bn

* Figures announced by Danylo Hetmantsev, Chair, Verkhovna Rada Committee on Finance, Tax & Customs Policy.


What the Numbers Tell Us

  1. Broadening Tax Base

    • The 8 % rise in millionaire filings suggests more high-earners are reporting income openly—an early win for recent digital-compliance drives and widened CRS data-exchange.

  2. Resilient Private-Sector Earnings

    • A ₴94 bn increase in total declared income—even under wartime conditions—signals pockets of growth in IT, agribusiness, defence-tech and export services.

  3. Revenue Potential

    • Higher declarations translate into larger PIT inflows, critical for covering wartime social programmes and defence outlays.

  4. Investor Optics

    • A transparent, growing high-income segment is often viewed by foreign investors as a marker of maturing financial governance and consumer-market depth.


Policy Background

  • E-Declaration Push: 2025 was the first full cycle under the upgraded e-filing platform.

  • Data-Sharing: Automatic exchange of financial information with 100+ jurisdictions (CRS) gave the State Tax Service new leverage to match offshore income.

  • White-Business Club: Over 9 600 compliant firms now benefit from fast-track services and fewer audits—part of the same “voluntary-compliance” strategy.


Outlook

  • Further Growth Expected: With income-matching algorithms and expanded international data feeds, officials expect the millionaire count to keep climbing—less from new riches, more from previously hidden earnings coming on the grid.

  • Fiscal Impact: Consistent enforcement could add several billions of hryvnias annually to the treasury—an essential buffer as external grant support moderates over the medium term.


“Over 17 000 Ukrainians officially became millionaires this year—1 300 more than last year. Total declared income reached ₴474 billion.”
Danylo Hetmantsev, Chair of the Finance Committee

You will be interested