{"id":20950,"date":"2022-03-15T17:23:13","date_gmt":"2022-03-15T15:23:13","guid":{"rendered":"https:\/\/kmp.ua\/?p=20950"},"modified":"2022-03-15T17:25:23","modified_gmt":"2022-03-15T15:25:23","slug":"new-vat-regulations-taking-effect-in-2022","status":"publish","type":"post","link":"https:\/\/kmp.ua\/en\/analytics\/press\/new-vat-regulations-taking-effect-in-2022\/","title":{"rendered":"New VAT regulations taking effect in 2022"},"content":{"rendered":"<p style=\"text-align: justify;\">November 2021 saw Ukrainian Parliament approve a bill introducing another set of amendments to the Tax Code of Ukraine, taking effect from 1 January 2022. New regulations\u00a0envisage the following changes for VAT payers:<\/p>\n<ul>\n<li style=\"text-align: justify;\">VAT payers may declare input tax in their VAT returns within 365 days after the seller<br \/>\nissues a VAT voucher for a supply. Prior to 1 January 2022, this time frame was 1,095 days.<br \/>\nFor VAT vouchers that had been issued before the new changes came into force, VAT<br \/>\npayers have to declare input tax within 365 days starting from 1 January 2022, but in any<br \/>\ncase, not later than 1,095 days after issuing a VAT voucher. The above deadline shall be<br \/>\nsuspended if the registration of a VAT voucher is blocked by tax authorities in the manner<br \/>\nprescribed by the legislation.<\/li>\n<li style=\"text-align: justify;\">Adjustment calculations to VAT vouchers may be registered in the unified register of VAT<br \/>\nvouchers within 1,095 days from the date of issue of such a VAT voucher. This new rule<br \/>\nmust be taken into account if there are any changes to the price of goods\/services after<br \/>\ntheir supply, especially for long-term contracts.<\/li>\n<li style=\"text-align: justify;\">Tax authorities have the right to initiate documentary tax audits of taxpayers who claim<br \/>\nVAT refunds. Before the new changes, tax authorities could launch a tax audit of a VAT<br \/>\npayer claiming VAT refund only in a few specific cases when VAT was paid before 1 January<br \/>\n2017. This change is expected to greatly increase the time gap of receiving VAT refunds for<br \/>\ntaxpayers due to the generally \u2018fiscal\u2019 approach of local tax authorities, according to<br \/>\nwhich such tax audits were initiated almost automatically in the case of claiming VAT<br \/>\nrefunds in the past.<\/li>\n<li style=\"text-align: justify;\">The VAT base for transactions regarding the supply and import of tobacco and tobacco<br \/>\nproducts, including industrial substitutes for tobacco and liquids used in electronic<br \/>\ncigarettes (\u2018tobacco products\u2019), for which a maximum retail price is established, shall be<br \/>\ndetermined based on such a maximum retail price. At the same time, supplies of tobacco<br \/>\nproducts are exempt from VAT, excluding the first supplies of tobacco products in the<br \/>\nterritory of Ukraine by producers or importers of such products.<\/li>\n<li style=\"text-align: justify;\">Transactions related to the supplies of investment gold as it is defined by the Tax Code of<br \/>\nUkraine are exempt from VAT. Such transactions include the supply of investment gold,<br \/>\nincluding via futures or forward agreements, services of agents involved in such supplies,<br \/>\nand services related to the production of investment gold or the transforming of gold into<br \/>\ninvestment gold.<\/li>\n<li style=\"text-align: justify;\">Temporary exemption from VAT for supplies of black and coloured scrap metal is prolonged until 1 January 2027.<\/li>\n<\/ul>\n<p><a class=\"mtli_attachment mtli_pdf mtli_attachment mtli_pdf\" href=\"https:\/\/kmp.ua\/wp-content\/uploads\/2022\/03\/2022-1-global-vat-newsletter-15.pdf\" target=\"_blank\" rel=\"noopener\">Download pdf-file of\u00a0the article (49 Kb)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>November 2021 saw Ukrainian Parliament approve a bill introducing another set of amendments to the Tax Code of Ukraine, taking effect from 1 January 2022. New regulations\u00a0envisage the following changes for VAT payers: VAT payers may declare input tax in their VAT returns within 365 days after the seller issues a VAT voucher for a [&hellip;]<\/p>\n","protected":false},"author":728,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[69,71],"class_list":["post-20950","post","type-post","status-publish","format-standard","hentry","category-press","tag-tax","tag-tax-pdw"],"_links":{"self":[{"href":"https:\/\/kmp.ua\/en\/wp-json\/wp\/v2\/posts\/20950"}],"collection":[{"href":"https:\/\/kmp.ua\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kmp.ua\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kmp.ua\/en\/wp-json\/wp\/v2\/users\/728"}],"replies":[{"embeddable":true,"href":"https:\/\/kmp.ua\/en\/wp-json\/wp\/v2\/comments?post=20950"}],"version-history":[{"count":3,"href":"https:\/\/kmp.ua\/en\/wp-json\/wp\/v2\/posts\/20950\/revisions"}],"predecessor-version":[{"id":20957,"href":"https:\/\/kmp.ua\/en\/wp-json\/wp\/v2\/posts\/20950\/revisions\/20957"}],"wp:attachment":[{"href":"https:\/\/kmp.ua\/en\/wp-json\/wp\/v2\/media?parent=20950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kmp.ua\/en\/wp-json\/wp\/v2\/categories?post=20950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kmp.ua\/en\/wp-json\/wp\/v2\/tags?post=20950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}