- Upon VAT registration cancellation, the taxpayer loses the right to use the cash method for determining tax liability dates.
- The taxpayer must determine tax liabilities for goods/services/non-current assets included in the tax credit but not used in taxable operations by the last reporting period, no later than the cancellation date.
- Tax liabilities are calculated based on the usual price of such goods/services/assets, except in cases of reorganization (merger, transformation, division, etc.).
- The cash method, which ties tax liability dates to the receipt or payment of funds, no longer applies after VAT registration is canceled.
- The taxpayer must accrue tax liabilities for delivered but unpaid goods/services by the VAT deregistration date.
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"
- Deadlines for VAT Budget Reimbursement Audits by Tax Authorities for Legal Entities in Ukraine
- How to Write Off VAT Without a Registered Tax Invoice: Expenses or Add to Asset Value?
- Does Temporary Import of Equipment Require VAT Registration if Value Exceeds 1 Million UAH?
- Are Lottery Ticket Issuance and Circulation Subject to VAT? Tax Authorities Clarify
- Tax Consequences When First Event Occurs Before VAT Registration and Second After Registration
