Founder-lawyer made a contribution to the authorized capital: what about VAT?

• Tax credit arises for the VAT payer when receiving fixed assets as a contribution to the statutory fund
• Tax credit also arises for the founder if the fixed assets are returned to them upon leaving the group of founders
• Operations related to the contribution and return of fixed assets to the statutory fund are subject to VAT taxation
• The tax credit includes amounts of tax paid/accrued for the acquisition of non-current assets
• The tax credit for a reporting period is determined based on the contractual value of goods/services and the tax amounts paid/accrued for the acquisition of fixed assets
• Failure to register tax invoices in the Unified Register of Tax Invoices does not allow the buyer to include VAT amounts in the tax credit
• Tax credit arises for both the VAT payer and the founder when fixed assets are received as a contribution to the statutory fund and returned upon leaving the group of founders.

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.

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