The Ukrainian Tax Service now automatically receives financial data on residents from abroad, with no minimum thresholds on the amounts. This large-scale exchange of information, which takes place under the global CRS standard, covers all bank accounts, e-wallets, and digital assets. For Ukrainians who live, work, or receive payments in the EU, this means complete transparency of their income to the tax authorities of both countries.
Ukrainian tax authorities are implementing the expanded CRS 2.0 procedure, which significantly changes the rules of the game for holders of foreign accounts. While in the early stages of the mechanism’s launch in 2024, the focus was primarily on large capital holdings or specific types of income, the emphasis is now on a massive flow of data. The Ministry of Finance and the State Tax Service of Ukraine have officially confirmed their accession to new international agreements that expand the scope of oversight and harmonize Ukrainian legislation with European directives such as DAC8.
What data is now available to tax authorities
Virtually all financial instruments used abroad are subject to automatic exchange. Information is received from European Union countries as well as from the United Kingdom, Switzerland, and many other jurisdictions.
Among the main categories of data transmitted by foreign banks and financial institutions are:
checking, deposit, and card accounts, regardless of the balance;
account balances as of the end of the reporting period and annual transaction volumes;
electronic money and specialized e-wallet products;
investment accounts and income from transactions involving virtual assets.
Risks for Refugees and Those Receiving Assistance
The main risk for Ukrainians abroad lies in discrepancies between social services’ data and actual deposits into Ukrainian or European accounts. In many European countries, the allocation of targeted assistance or living allowances is tied to strict criteria regarding financial status and available savings.
If a person has applied for social assistance but maintains an active account in Ukraine with substantial deposits or savings that were not declared to local social welfare authorities, this may be classified as concealment of income. The consequences are usually severe: a requirement to repay the illegally received funds to the government and substantial fines. Even those who are legally employed in Slovakia or another EU country and pay taxes there should carefully monitor their tax residency status and income reporting to avoid discrepancies in their tax returns.
What Ukrainians in Slovakia Should Do
Although some European countries are already implementing strict schedules for processing and reconciling such data, the best strategy remains full transparency and timely filing of reports. Fiscal algorithms automatically cross-reference figures from various databases, so attempts to hide income from freelancing, business activities, or rentals are pointless.
Those who receive social benefits or are required to declare income should prepare statements from all their active accounts in advance.
