- A contractor can refuse the cash method for VAT by changing the company’s accounting policy.
- The cash method determines tax obligations based on the receipt of funds.
- No declaration is needed to start using the cash method.
- The accounting policy document should reflect the use of the cash method.
- Refusal increases VAT obligations on unpaid goods or services.
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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