In Ukraine, one of the most difficult taxes in terms of charging and paying is VAT. This is due to the variety of rates, reporting forms, as well as the mechanism for administering this tax.
It is necessary
Tax code of Ukraine, -tax invoice
Instructions
Step 1
Register as a VAT payer. This is necessary so that an enterprise or a private entrepreneur can charge this tax on the cost of their goods or services and subsequently be eligible for a tax credit. In Ukraine, registration consists in entering the necessary information into the register of VAT payers.
Step 2
Get an idea of what transactions you need to determine a particular VAT rate. It depends both on their nature (delivery of goods within Ukraine or export), and on product groups and the circle of consumers.
Step 3
Check out the provisions of the Tax Code of Ukraine regarding VAT rates. Until December 31, 2014, the standard VAT rate in Ukraine is 20%. From January 1, 2015, VAT on major transactions will be paid at a rate of 17%. A number of operations (export, etc.) in Ukraine have a zero VAT rate. In addition, in 2014, at a rate of 7%, VAT is paid on operations for the supply of drugs by manufacturers and importers.
Step 4
After determining the required VAT rate, add it to the cost of the product or service being sold. This will be their final price including VAT. Indicate it in the primary accounting documents. The total amount of VAT included in the price of goods sold during the reporting period (calendar month or quarter) will be tax liabilities payable to the budget.
Step 5
Draw up a tax invoice in two copies, and give one of them to the buyer. It can be drawn up in both paper and electronic form. In the latter case, an electronic digital signature is required. Register your tax invoice in the Unified Register of Tax Invoices. This is done in electronic form using special programs.
