- Failing to register as a VAT payer when required can lead to penalties.
- Individuals who are required to register as VAT payers but fail to do so are responsible for any unpaid VAT.
- If the total value of taxable goods or services sold within 12 months exceeds 1,000,000 hryvnias, the individual must register as a VAT payer.
- Individuals who fail to register as VAT payers are not eligible for tax credits or refunds.
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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