- Negative values in a VAT declaration are reported in specific lines of the declaration form
- The balance of the negative value after deducting tax debt and budget compensation is shown in line 20.3 of the declaration
- The amount of the negative value that is carried over to the next period’s tax credit is displayed in line 21 of the declaration
- According to the VAT reporting guidelines approved by the Ministry of Finance on January 28, 2016, if the difference between tax liabilities and tax credits results in a negative value, it should be filled in line 19 of the declaration
- Line 19 of the declaration determines the excess of the negative value over the amount calculated according to section 200-1.3 of the Tax Code at the time of declaration submission
- The determined amount is indicated in line 19.1 of the declaration and is credited to the tax credit for the next reporting period
- The negative value that does not exceed the amount calculated according to section 200-1.3 of the Tax Code is mentioned in line 20 of the declaration and can either reduce previous tax debts or be eligible for budget compensation
- The calculation of budget compensation is within the limits of the amount calculated according to section 200-1.3 of the Tax Code, minus the negative value of the current reporting period credited against the VAT tax debt
- The remainder of the negative value after deducting the tax debt and budget compensation is shown in line 20.3 of the declaration
- The amount of the negative value that is credited to the tax credit for the next reporting period is displayed in line 21 of the 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.
