- Penalties for late registration of VAT are regulated by articles 180-183 of the Tax Code
- Registration application must be submitted to the tax authority by the 10th of the following month after reaching the taxable transactions threshold
- Failure to submit registration application results in tax liability without the right to tax credit or budget refund
- Tax authority determines monetary obligations if tax declaration is not submitted on time
- Penalties of 10%, 25%, or 50% of tax liability may be imposed for intentional violations
- Responsibility for VAT declaration and tax invoice registration does not apply if not registered as a taxpayer
- Tax declaration and invoice rights are only granted to registered taxpayers according to the Tax Code
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.
