Understanding the 365-Day Rule for VAT Credit Inclusion in Tax Declarations

• The taxpayer received a notice from the tax inspector about the inclusion of an invoice dated 05.01.2024 in the tax credit no later than December 2024.
• The tax authority clarified that the right to include the invoice in the tax credit is valid for 365 calendar days from the date of the invoice.
• The inspector incorrectly calculated the period in whole months, suggesting the right ends on the last day of the twelfth month.
• The taxpayer can include the invoice in the tax credit until 04.01.2025 inclusive.
• The event should be reflected in the relevant tax declaration, which could be the declaration for January 2025.
• If the invoice is not dated the first day of the month, the 365th day falls in the same month the following year.
• If the invoice is dated the first day of the month, the 365th day falls on the last day of the previous month the following year.

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.