The Ukrainian tax authority has clarified that Value-Added Tax (VAT) is not charged to the customer when raw materials, fuel or other materials are provided by the customer to the contractor for the execution of works or services. The ownership of these materials remains with the customer, and therefore, there is no transfer of property ownership to the contractor. According to the Ukrainian Tax Code, VAT applies to the supply of goods and services, with the place of supply located within the customs territory of Ukraine. The article further explains the definitions of the terms related to the supply of services and goods and the obligations of the parties involved in a contract of subcontracting.
Source: news.dtkt.ua
Latest Posts in "Ukraine"
- 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
- Property Transfer to Charter Capitals: VAT Implications During Taxpayer Reorganization
