Changes in tax treatment
The new provisions of the Tax Code specifying new rules for non-residents providing activities in Ukraine become effective 1 January 2021.
14% VAT rate on the supply of agricultural goods
1. The reduced rate will be applied to the following types of agricultural goods (hereinafter – “Goods”):
2. During the transitional period VAT rate of 20% shall be applied to the above-mentioned products for the following transactions:
3. VAT credit formed from the purchases of goods before March 1, 2021, at the rate of 20% shall be retained in full and shall not be subject to adjustment for the subsequent supply of such goods at the rate of 14%.
4. The transitional provisions do not disclose in detail the application of rates of 20% or 14%, which may be the subject of attention of the tax authorities, in the following cases:
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