Taxation nuances of VAT on insurance operations in Ukraine

• Insurance and reinsurance services are not subject to VAT in Ukraine.
• Payment of insurance premiums is also not subject to VAT.
• According to the Law on Insurance, insurance payments are monetary amounts paid by insurers in accordance with the terms of the insurance contract in the event of an insured event.
• The size of insurance payments is determined by agreement between the insurer and the policyholder or in cases provided for by law.
• The receipt or payment of insurance premiums does not affect the amount of tax credit or tax liabilities for either the insured person or the insurance company.

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.