- Taxpayers conducting VAT-exempt operations must follow specific guidelines for tax reporting.
- Exempt operations include those under certain subpoints of the Tax Code related to state defense contracts.
- Article 199 of the Tax Code outlines the procedure for calculating the use of goods and services in taxable and non-taxable operations.
- Taxpayers must calculate tax obligations based on the taxable base and register a consolidated tax invoice.
- The percentage of goods and services used in taxable operations is determined annually and applied throughout the year.
- An annual recalculation is required based on actual volumes of taxable and non-taxable operations.
- Adjustments to tax obligations are made according to the recalculated percentages.
- Certain provisions of Article 199 do not apply to specific operations as outlined in the Tax Code.
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.
