The article highlights the importance of indirect taxes as an instrument of financial regulation and an essential replenishment source of the state budget of Ukraine. The economic essence of the value-added tax is revealed and its role in the structure of tax revenues is highlighted. The revenue structure of the state budget of Ukraine for a three-year period has been analysed, the dynamics of revenue-generating sources, as well as changes in their shares in the total amount of revenues, have been determined. It has been established that the largest share in the structure of the state budget of Ukraine consists of revenues from the collection of taxes, fees and mandatory payments. The problems caused by the efficiency of taxation and administrative procedures in terms of the value-added tax collection are spotlighted. The assessment of tax revenues from the value-added tax, both from goods (works, services) manufactured (performed) in Ukraine, and from imported goods into the customs territory of Ukraine has been carried out. The factors that led to a change in the amount of tax revenues to the state budget of Ukraine on the value-added tax have been analysed, taking into account the situation of military aggression and instability at the geopolitical level. It has been proved that the increase in the amount of funds received by the state budget of Ukraine from transactions related to the taxation of value-added tax on goods (works, services) manufactured (performed) in Ukraine, considering the budget reimbursement, is due not to the national economic recovery or an increase in the efficiency of business structures, but to the introduction of complicated tools for administering the value-added tax and a reduction in the amount of budget reimbursement to value-added taxpayers. The dynamics of budgetary reimbursement of the valueadded tax in conditions of complex financial challenges has been assessed. It has been established that there is a positive trend in the amount of funds received by the state budget of Ukraine from the value-added tax on transactions, in relation to imported goods into the customs territory of Ukraine, which indicates a significant impact of imports on the country's economy in general and budget revenues in particular.