Can VAT payer recognize input tax credit for vehicle expenses?

• A sole proprietor VAT payer can recognize a tax credit for expenses on a car
• Tax credit includes amounts of tax paid/incurred when purchasing or manufacturing goods and services
• The date of tax amounts being included in the tax credit is determined by the date of the event or the date of funds being debited from the taxpayer’s account for payment of goods/services
• A tax invoice registered in the Unified Register of Tax Invoices serves as a basis for the buyer to calculate tax amounts for the tax credit
• Taxpayer must calculate tax obligations based on the taxable base and register a consolidated tax invoice in the ERP in a timely manner
• Tax amounts not confirmed by registered tax invoices/correction calculations or customs declarations are not included in the tax credit

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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