For the mortgagor, transactions on the transfer of ownership of the mortgaged bank to repay the debt to such a bank are regarded as transactions for the supply of such property. In this case, if the mortgagor is a registered VAT payer, such mortgagor is obliged to determine the tax liabilities for such a transaction and draw up a tax invoice, which is subject to mandatory registration in the Unified Register of Tax Invoices (hereinafter – ERPN).
Source: visnuk.com.ua
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