- VAT payer does not charge VAT when writing off fixed assets due to their dismantling or transformation in another way, if they cannot be used for their original purpose and the fact of their destruction is documented
- The State Tax Service informs about the taxation of VAT on goods destroyed or lost due to force majeure during the period of martial law
- Goods are considered as material and non-material assets, including land plots, securities, and derivatives used in any operations except for issuance and redemption
- Supply of goods includes any transfer of rights to goods as an owner, including sale, exchange, or donation, as well as liquidation of non-current assets by the taxpayer’s own desire
- Main assets are material assets intended for use in the taxpayer’s economic activities, with a value exceeding 20,000 hryvnias and a useful life of over one year
- Taxpayer must calculate tax liabilities based on the taxable base determined according to the tax legislation.
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.
