- Current and Upcoming E-Invoicing Regulations: Ukraine mandates e-invoicing for all Business-to-Government (B2G) transactions and for companies with annual revenues exceeding UAH 1 million across Business-to-Business (B2B) and Business-to-Consumer (B2C) transactions. Upcoming regulations include the mandatory implementation of Standard Audit File for Tax (SAF-T) for large taxpayers starting January 1, 2025, and for all taxpayers by January 1, 2027.
- Tax Regulations Overview: The standard VAT rate in Ukraine is 20%, with reduced rates for specific products and services. Companies must register for VAT if taxable supplies exceed UAH 1 million within 12 months. Digital services provided by foreign companies also require VAT registration if their turnover exceeds this threshold. Reporting frequencies for VAT returns vary, with monthly, quarterly, and annual submissions depending on the taxpayer’s circumstances.
- Compliance and Penalties: Businesses face penalties for late registration of zero-rate invoices and non-compliance with SAF-T filing procedures. Utilizing a service provider like Space Invoices can facilitate compliance with e-invoicing and tax regulations by offering streamlined processes, API integration for global compliance, and support for archiving and reporting requirements. It is recommended to consult a tax professional for personalized advice, as regulations frequently change.
Source Spaceinvoices
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