Tax Accounting for Return of Goods with Uncredited Funds: Guidelines by Ukrainian Tax Service

• Changes in the amount of compensation for goods/services must be reflected in the tax accounting
• The calculation of adjustment to the tax invoice must be registered in the Unified Register of Tax Invoices within 1095 calendar days
• If the amount of compensation is reduced in favor of the supplier, the tax obligations of the supplier and the tax credit of the recipient must be adjusted accordingly
• The supplier can reduce tax obligations only after the adjustment calculation is registered in the Unified Register of Tax Invoices
• In case of returning goods by the buyer, the supplier must prepare an adjustment calculation to the tax invoice and can reduce tax obligations after registration by the buyer
• The buyer must reduce the tax credit in the reporting period in which the return occurred
• If the returned funds are not used for payment of other goods/services, a tax invoice must be prepared for this transaction.

Source: od.tax.gov.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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