How Tax Authorities Reduce VAT Debt in Integrated Card: Detailed Procedure and Regulations

• The amount indicated in line 20.1 of the VAT declaration is used to reduce the VAT tax debt in the integrated taxpayer card (ITC)
• If the calculated amount in line 200.1 of the Tax Code is negative, it is used to reduce the tax debt from previous reporting periods
• Negative values in line 20 of the VAT declaration are used to reduce the tax debt from previous periods
• Payments are recorded in the ITC in chronological order, with each operation recorded in a separate line
• Payments are first used to settle tax obligations, then penalties, and finally interest
• The amount in line 20.1 of the VAT declaration is used exclusively to reduce the VAT tax debt in the ITC, following a specific order of priority for debt repayment

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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