- 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.
Latest Posts in "Ukraine"
- Court Upholds VAT Credit Overstatement Due to Supplier Lacking Transport and Employees: Case Law
- VAT on E-Services from Non-Residents: Key Rules for Tax Liability and Invoice Issuance
- VAT Implications When Equipment Payment Is Made by a Third Party in Ukraine
- VAT Payer Re-Registration and Deregistration: When and How It Happens in Ukraine
- Is VAT Charged on Reimbursement for Repair of Exported Goods by a Non-Resident?
