Procedure for Forming VAT Tax Credit Based on Registered Invoices by Tax Authorities Commission

• Tax credit with VAT is formed based on registered tax invoices in the Unified Register of Tax Invoices by the decision of the supervisory authority commission
• Tax invoices must be registered in the ERP system by the taxpayer who conducts transactions with goods/services
• Failure to register tax invoices in the ERP system by the seller does not allow the buyer to include VAT amounts in the tax credit
• Registration of tax invoices in the ERP system can be suspended by the Cabinet of Ministers of Ukraine
• Taxpayers can access data on tax invoices and adjustments in the ERP system through their electronic taxpayer account
• Rules for forming tax credit are outlined in Article 198 of the Tax Code of Ukraine
• Tax credit for reporting period is based on contractual value of goods/services and includes taxes paid by the taxpayer at the established rate.

Source: kyiv.tax.gov.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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