- If a taxpayer has a VAT tax debt recorded in their integrated taxpayer card (ITC) before the VAT declaration payment deadline, any funds received from the VAT electronic administration system (SEA VAT) account are first used to pay off the existing VAT tax debt in the ITC. Tax authorities are required to allocate incoming payments to settle tax debts in the order they arose, regardless of the payment purpose indicated by the taxpayer. Using funds to pay current tax liabilities before settling tax debt is prohibited, except for salary and social security contributions. The ITC is maintained for each taxpayer and is based on primary documents processed by the tax authority’s information system.
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"
- Ukraine Plans VAT for Entrepreneurs, Ends Parcel Exemptions: Impact on Business and Consumers
- VAT Registration Cancellation: Rules, Application Procedure, and Key Deadlines for Taxpayers
- How to Correct VAT Invoice Errors When Buyer Turns Out to Be a VAT Payer?
- Calculation of Supply Volume for VAT Registration under Commission Agreements in Ukraine
- VAT Deregistration: What Happens to the Cash Method for Tax Obligations?
