- Transfer of collateral to the creditor for debt repayment is considered a supply of goods and is subject to VAT.
- The creditor can satisfy claims using collateral, including interest and damages, unless otherwise stated in the contract.
- Sale of collateral is conducted through auctions unless specified otherwise.
- Acquisition of ownership through foreclosure is treated as a purchase.
- VAT is applied to the supply of goods within Ukraine based on contractual value.
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.
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