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
Latest Posts in "Ukraine"
- Should Cash Settlement Services Be Reported in Line 10.4 of the VAT Return?
- Can Negative VAT Be Used to Repay VAT Debt? Penalties for Late Payment Explained
- Comarch EDI Integrates with Ukraine’s e-TTN Test System, Advancing Digital Freight Transport
- VAT Credit Formation for Temporary Import Operations with Conditional Partial Tax Exemption in Ukraine
- VAT in Municipal Enterprises: DPS Clarifies Taxation of Budget Funds and Non-Refundable Grants
