On February 17, 2021, the Verkhovna Rada of Ukraine adopted in the first reading the draft Law1, according to which non-resident companies that provide electronic services to individuals in Ukraine are required to apply for registration as a VAT payer by March 31, 2022, if the total amount of such operations during 2021 exceeds the equivalent of UAH 1 million.
The draft Law prescribes a 20% VAT rate on electronic services.
Source PwC
Latest Posts in "Ukraine"
- How Contractors Can Opt Out of Cash Method for VAT in Construction Contracts
- VAT Taxation Procedure for Sale of Pledged Property by Non-Financial Creditors in Ukraine
- VAT Implications for Resident Buyers Receiving Credit Notes as Monetary Rewards from Non-Residents
- VAT Exemption on Pawned Property Sales by VAT Payers: Conditions and Regulations Explained
- Adjustment of Tax Liabilities and Credits in VAT Declaration for Reporting Period