- Negative VAT values should be displayed in Table 1 of Appendix 2 to the VAT declaration in chronological order starting from the closest reporting period to the declaration date
- According to section 200.1 of the Tax Code, the tax amount due to the state budget or for budget reimbursement is the difference between the tax liability and the tax credit of the reporting period
- If the tax credit exceeds the tax liabilities for the reporting period, a negative VAT value is formed which can be included in the tax credit for the next period as per section 200.4
- The form and procedure for submitting VAT returns are established by the Ministry of Finance of Ukraine Order No 21 dated January 28, 2016
- According to section III, paragraph 1 of Order No 21, VAT declaration data is entered separately for each reporting period without cumulative totals
- Appendices specified in Order No 21 are included in the declaration if relevant events need to be reported
- Section III of the declaration calculates the difference between the tax liabilities and the tax credit for the reporting period, including the negative value from the previous period in the current tax credit
- The entire volume of the tax credit mentioned in the declaration is considered when calculating the difference between the tax liabilities and the tax credit for the reporting period
- Order No 21 does not specify the sequence of accounting for the negative value in settling the tax liabilities of the reporting period, but it is advisable to account for the negative value in chronological order from oldest to newest
- If the calculation results in a negative value, it can be included in the tax credit for the next reporting period and is detailed in line 21 of the declaration and Appendix 2
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.
