When and How VAT Payers Must Transfer Funds to the Treasury Account

• VAT payers transfer funds from their current accounts to a budget account at the Treasury in cases of tax payments following DPS audits
• The Main DPS Management in Kyiv states that VAT payers are automatically provided a free account in the VAT Electronic Administration System by the Treasury
• VAT payers transfer necessary amounts from their current accounts to the VAT Electronic Administration System to register tax invoices and adjustment calculations in the Unified Register of Tax Invoices and to pay agreed tax liabilities to the budget
• Funds from the VAT payer’s account in the VAT Electronic Administration System are transferred by the Treasury within the deadlines set by the VAT Electronic Administration Order approved on October 16, 2014, No 569, to the State Budget as VAT liabilities due for the reporting tax period
• VAT payers also transfer funds to the Treasury’s budget account for tax liabilities and penalties as determined by the DPS under specific provisions of the Tax Code

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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