- An individual is required to register as a VAT payer if the total amount of taxable transactions exceeds 1,000,000 UAH in the last 12 calendar months.
- Registration as a taxpayer must be done by submitting an application to the tax authority by the 10th day of the following month after reaching the taxable transaction threshold.
- Mandatory registration applies to individuals conducting operations with confiscated property, findings, treasures, ownerless property, and property transferred to the state by inheritance or other legal grounds, regardless of the amount of transactions.
- Failure to submit a registration application to the tax authority can result in penalties and the inability to claim tax credits or receive budget refunds.
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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