- When inventory (including spoiled goods) is written off, it is considered used in non-business operations.
- In such cases, compensating VAT liabilities must be accrued.
- VAT credit is allowed at the time of purchase, regardless of whether the goods are used in taxable operations.
- If inventory is written off and VAT was previously included in the tax credit, the taxpayer must accrue VAT liabilities at the standard rate by the end of the reporting period.
- The taxpayer must issue and register a consolidated tax invoice for such goods/services in the Unified Register of Tax Invoices.
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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