- Interest on funds in a bank account is not considered compensation for goods/services
- Therefore, the amount of such funds is not included in the VAT tax base
- Reminder from the tax authorities in Ivano-Frankivsk region about VAT taxation rules
- VAT is applicable to transactions of goods/services within Ukraine
- Definition of goods and services for VAT purposes
- Tax base for goods/services transactions is determined based on contractual value
- Funds received as interest on bank account balances are not included in VAT tax base
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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