- Tax credit arises for VAT payers regarding fixed assets contributed to the statutory fund
- Tax credit arises for both the VAT payer and the founder if the fixed assets are returned to the founder upon withdrawal from the founders’ composition
- According to the Tax Code of Ukraine, the object of taxation is the operations of taxpayers for the supply of goods located on the customs territory of Ukraine
- Supply of goods includes any transfer of the right to dispose of goods, including sale, exchange, or donation, as well as supply of goods by court decision
- Operations of contributing fixed assets to the statutory fund and returning fixed assets previously contributed to the statutory fund by legal or natural persons fall under the definition of the object of taxation for value-added tax
- Tax credit includes the tax amounts paid/accrued for the acquisition (construction, creation) of non-current assets, including when such assets are contributed to the statutory fund or transferred to the balance sheet of the taxpayer authorized to account for the results of joint activities
- The tax credit for the reporting period is determined based on the contractual value of goods/services and consists of the tax amounts accrued (paid) by the taxpayer at the rate established by the Tax Code for the acquisition (construction, creation) of fixed assets
- The absence of registration of tax invoices in the Unified Register of Tax Invoices by the taxpayer-seller of goods/services does not give the buyer the right to include the VAT amounts in the tax credit
- Therefore, tax credit arises for both the VAT payer and the founder when fixed assets are received as a contribution to the statutory fund, and if the fixed assets are returned to the founder upon withdrawal from the founders’ composition.
Source: news.dtkt.ua
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
