- Exempt VAT operations are conducted without VAT accrual but with the right to input tax credit for goods and services used in these operations.
- Taxpayers conducting exempt operations, such as those under certain state defense contracts, are not subject to specific VAT rules.
- The method for calculating the use of goods and services in taxable and non-taxable operations is outlined in the tax code.
- If goods and services are used in both taxable and non-taxable operations, taxpayers must calculate tax obligations based on the taxable base.
- The percentage of use in taxable operations is determined annually and applied throughout the year.
- Taxpayers must recalculate the percentage of use based on actual operations at the end of the year.
- Certain operations are exempt from the rules of the tax code, including specific exempt VAT operations.
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.
