- Operations related to insurance payments are not subject to VAT
- Insurance payments are defined as monetary funds paid by insurers in case of an insured event
- The insurance sum is the monetary amount within which the insurer is obligated to make an insurance payment in case of an insured event
- Insurers are financial institutions or branches of non-resident insurers authorized to operate in Ukraine
- Since insurance services are not subject to taxation, VAT is not applicable to insurance payments
- Transactions related to receiving or making insurance payments do not affect tax credits or obligations for insured individuals or insurance companies
Source: od.tax.gov.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.
