- Negative VAT balance has been present for 1095 days: should it be further indicated in the declaration?
- The negative VAT balance is reflected in the VAT declaration until it is fully settled.
- According to the Tax Code of Ukraine, the amount of tax to be paid is determined by the the difference between the tax liability and the tax credit for the reporting period.
- If the tax credit exceeds the tax liability, a negative VAT amount is formed for the taxpayer.
- The negative VAT amount can be used to reduce tax debt from previous periods or be refunded to the taxpayer.
- Taxpayers under special economic sanctions are not eligible for budget refunds for negative VAT amounts.
- Negative VAT amounts related to certain transactions are not eligible for budget refunds.
- Such negative VAT amounts are included in the tax credit for the next reporting period.
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.
