- When a car owner receives repair services from an insurance company, they include the VAT amount in the taxable base and determine compensatory tax credit in the same reporting period.
- According to the tax code, services related to insurance, co-insurance, or reinsurance by licensed individuals are not subject to VAT.
- Insurance payout is the money paid by the insurer in case of an insured event, as per the insurance contract or legislation.
- The tax liability for goods/services supply is considered to arise when funds are credited to the taxpayer’s account, or when goods are dispatched, or when services are provided.
- Taxpayers must prepare an electronic tax invoice with a qualified electronic signature on the date of tax liability and register it in the Unified Register of Tax Invoices.
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.
