Legal advice on changes to the TCU made by the Law № 466-IX (Bill № 1210)
Regarding changes in VAT taxation:
- Changes to the procedure for registration of VAT payers (Article 183 of the TCU), in the case of voluntary registration of a person as a VAT payer or a person who meets the requirements specified in paragraphs. 6 item 180.1 TCU (sells confiscated property, etc.), the registration application is submitted no later than 10 calendar days (was – 20) before the beginning of the tax period from which such persons will be considered as VAT payers.
- For single tax payers of the 3rd group – non-VAT payers, for voluntary change of the single tax rate the registration application is submitted not later than 10 calendar days before the beginning of the month in which the single tax rate will be applied. before the beginning of the quarter) and is valid from the first day of this month.
- The procedure for submitting an application for registration of a VAT payer has been changed, now the application is submitted in electronic form (it was – in electronic or paper form).
- The newly created business entity will still be able to submit an application to the State Registrar for registration as a VAT payer together with other registration documents. Such an application will be considered within 3 days from the date of its receipt by the supervisory authority.
- In case of transformation of a legal entity or change of data (tax number, name), as well as correction of discrepancies or errors in the Register of VAT payers, not related to liquidation, the VAT payer is re-registered. You must submit a registration within 10 business days to re-register.
- The VAT tax base is defined (Article 188 of the TCU):
- for operations on export of goods outside the customs territory of Ukraine (contractual (contractual) value of such goods specified in the customs declaration);
- for electricity supply transactions, based on the price prevailing on the electricity market without the need to add VAT, if such market price of electricity is less than the purchase price.
- Regarding the tax credit of Art. 198 TCU:
- The tax credit includes the amounts of VAT confirmed, in particular, temporary, additional and other types of customs declarations, on which VAT is paid when importing goods.
- VAT payers who use the cash method, if the payment for purchased goods / services is made more than 1095 calendar days, will be able to include in the tax credit the amount of VAT in the reporting period in which such goods (services) were paid, but no later than 60 calendar days from the date of such payment.
- Regarding the electronic administration of VAT under Art. 200-1 of the TCU, the changes concern the calculation of the registration limit amount. The formation of the indicator will take into account, in particular, the amount of funds withdrawn and credited by the tax authority to the electronic account of the VAT payer in accordance with Art. 95 of the TCU to repay the VAT tax debt on declared tax liabilities for periods beginning on or after July 1, 2015, specified in the VAT return or adjustment calculation
- Regarding the terms of preparation of tax invoices under paragraph 201.10 of the TCU, for consolidated PN and RK to such PN, drawn up on the transactions specified in paragraph 198.5 and paragraph 199.1 of the TC (compensating tax liabilities) extended the deadline for registration in ERPN with 15 to 20 days of the month.
- Regarding reporting tax periods in accordance with Art. 202 of the TCU, the reporting tax period is one calendar month, for VAT reporting the only reporting period is a calendar month, including for single tax payers (previously it was a month and a quarter for some taxpayers).
- Regarding VAT benefits:
- a temporary VAT exemption has been established for operations on the transfer of vehicles to low-income groups of the population, as well as special purpose bodies (until 31.12.2020);
- The application of a zero VAT rate to soybean and rapeseed export operations has been resumed (prior to the amendment of soybean and rapeseed export operations, a VAT exemption regime was applied, which precluded the possibility of declaring VAT refunds on such transactions).