- Supplier prepares adjustment calculations for reducing VAT obligations, while the buyer registers them.
- Both parties need to be aware of registration deadlines and what tax authorities check.
- The form for adjustment calculations is approved by the Ministry of Finance.
- Basic rules for registering adjustments to reduce VAT obligations are outlined in tax code.
- Adjustments can occur due to price changes, quantity changes, or correcting invoice errors.
- In all cases, a negative adjustment reduces the VAT amount shown in the invoice.
- Supplier can reduce tax obligations only after the adjustment is registered.
- Timely registration by the buyer is crucial for the supplier to adjust VAT obligations in their declaration.
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.
