- If an individual entrepreneur who is not registered as a VAT payer receives budgetary compensation for a period when they were registered as a VAT payer, the amounts are not included in the income of the individual entrepreneur.
- The taxable object is the net taxable income, which is the difference between total taxable income and documented expenses related to the economic activity of the individual entrepreneur.
- Cash and non-cash revenue received by the individual entrepreneur are included in the total taxable income.
- VAT amounts included in the price of purchased or sold goods/services are not included in the expenses and income of the registered VAT payer.
- Budgetary compensation is provided within the specified timeframes, regardless of whether the person remains registered as a taxpayer on the date of receiving such compensation.
- Budgetary compensation received by an individual entrepreneur who is not registered as a VAT payer for a period when they were registered as a VAT payer is not included in the total taxable income of the individual entrepreneur.
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.
