- VAT on advance payments in foreign currency for services to non-residents is calculated using the previous working day’s official exchange rate.
- The State Tax Service of Ukraine confirmed the use of the National Bank of Ukraine’s exchange rate from the previous working day.
- VAT liability arises when the payment is credited to the taxpayer’s account, according to paragraph 187.1 of the Tax Code of Ukraine.
- The VAT base is determined by the contractual value, as per paragraph 188.1.
- This clarification aligns with NBU regulations on exchange rate effectiveness.
Source: regfollower.com
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.
