- Interest received by a VAT payer on funds in a bank account is not considered compensation for goods/services
- The amount of interest received does not need to be included in the VAT taxable base or declared in the VAT declaration
- VAT is applicable to transactions of goods/services where the place of supply is in Ukraine
- Supply of goods includes sale, exchange, or donation of goods, as well as supply of goods by court decision
- Supply of services includes any operation that is not supply of goods, transfer of intellectual property rights, or provision of services consumed during a specific action or activity
- The taxable base for transactions of goods/services is determined based on the contractual value, including any amounts transferred to the taxpayer as compensation for goods/services
- Interest received on funds in a bank account is not considered compensation for goods/services and should not be included in the VAT taxable base or declaration.
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.
