- The tax amount specified in line 20.1 of the VAT tax declaration is credited to reduce the VAT tax debt in the taxpayer’s integrated card.
- According to the Tax Code of Ukraine, if the taxpayer’s credit exceeds their obligations, a negative VAT value is formed.
- This negative value is used to reduce the tax debt from previous periods.
- The amount is calculated based on specific provisions of the Tax Code and is reflected in line 20.1 of the declaration.
- The process is governed by the order of the Ministry of Finance of Ukraine and involves integrated taxpayer cards for tracking.
Source: od.tax.gov.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.
