Tax Credit for VAT Payers: Repair Services for Freight Vehicles by Sole Proprietors Explained

• An individual entrepreneur (FOP) who is a VAT payer and receives truck repair services can form a tax credit based on a properly registered tax invoice in the Unified Register of Tax Invoices (ЄРПН).
• The tax credit is recognized on the earlier of the payment date or the date of receiving goods/services.
• Only tax amounts confirmed by registered tax invoices or customs declarations can be included in the tax credit.
• If goods/services are used for non-taxable, exempt, or non-business activities, the taxpayer must accrue tax liabilities and issue a consolidated tax invoice.
• Tax credit is not allowed for purchases not confirmed by registered tax invoices or customs documents.

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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