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Factoring operations: under what conditions without VAT?

The Main Department of the State Traffic Police in Donetsk region informs that according to Art. 1077 of the Civil Code of Ukraine of January 16, 2003 № 435-IV as amended (hereinafter – CCU) under the factoring agreement one party (factor) transfers or undertakes to transfer funds to the other party (client) for a fee (in any -which is provided by the contract), and the client assigns or undertakes to assign to the factor his right to a monetary claim against a third party (debtor).

Source: visnuk.com.ua

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