- Tax authorities found an error in the negative VAT amount during the inspection.
- The error may indicate an understatement or overstatement of the negative VAT amount.
- Tax authorities must independently determine these amounts.
- The amount of tax payable or refundable is determined as the difference between the tax liability and tax credit of the reporting period.
- If the tax credit exceeds the tax liability, a negative VAT amount is formed.
- The negative VAT amount can be carried forward to the tax credit of the next reporting period.
- The form and procedure for filling out VAT tax returns are approved by the Ministry of Finance Order No. 21 dated 28.01.2016.
- The negative amount to be carried forward to the tax credit of the next period is reflected in line 21 of the declaration and transferred to line 16.1 of the next period.
- Appendix 2 to the declaration details the negative amount.
- An error in the negative amount or the period of its occurrence leads to the provision of inaccurate information.
- The supervisory authority is obliged to independently determine the decrease or increase in the negative VAT amount in case of error detection.
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.
