Do VAT liabilities accrue when writing off intangible assets?

• According to the National Accounting Standard 8 “Intangible Assets”, intangible assets are non-monetary assets that can be identified.
• The Tax Code of Ukraine states that taxable operations include the supply of goods and services.
• Goods include both tangible and intangible assets.
• Intangible assets can be written off from the balance sheet if they are no longer beneficial to the company.
• Tax obligations should be calculated based on the taxable base and registered in the Unified Register of Tax Invoices.
• If fixed assets are liquidated by the taxpayer’s decision, it is considered as a supply of assets at market prices.
• When intangible assets are written off due to the inability to derive economic benefits, tax obligations should be calculated.

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.

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