The Verkhovna Rada on November 11 adopted in the second reading and in its entirety draft law No. 16037-d on simplifying the administration of value-added tax (VAT). The document provides for automation of tax reporting, new opportunities for entrepreneurs, and changes in the rules for issuing tax invoices.
This was reported by the Ministry of Finance of Ukraine. The draft law was supported by 273 people's deputies.
One of the main innovations is the possibility of automatic pre-filling of VAT declarations and tax invoices. The State Tax Service will generate documents based on information already contained in its electronic systems. The procedure and extent of use of this data will be determined by the Ministry of Finance.
For individual entrepreneurs registered as VAT payers, the right to independently choose the reporting period is provided: month or quarter. This will allow some individual entrepreneurs to switch from monthly to quarterly declaration filing.
Also, the threshold for conducting documentary checks regarding declared budget reimbursement or negative VAT value will be raised from 100,000 to 1 million hryvnias. At the same time, other grounds for tax audits provided by legislation remain.
The law simplifies the preparation of consolidated tax invoices for enterprises with regular or continuous supplies of goods and services. In addition, companies that are reorganized through transformation will be able to transfer negative VAT value to tax credit without mandatory confirmation by documentary audit.
Separate innovations concern the sale of cars and smartphones. In tax invoices for relevant vehicles, the VIN code will need to be indicated, and when selling mobile phones - the international mobile equipment identifier IMEI.
The conditions for taxation of car sales by individuals will also change. According to the new provisions, for exemption from tax on income from the sale of a passenger car, motorcycle, or moped, the period of ownership of the vehicle will be taken into account - more than 183 days from the moment of state registration. An exception is provided for transport received as inheritance. In other cases defined by law, rates of 5% or 18% will apply.
Also, the criteria for payers with a high level of tax compliance, known as "white business", and the rules for appealing tax liabilities after documentary audits are clarified.
The Ministry of Finance noted that the adoption of the law is related to Ukraine's international obligations to the European Union and the International Monetary Fund. These changes are one of the conditions for receiving financial support from international partners.
The law will enter into force the day after its official publication after signing by the president. At the same time, for some provisions later dates are provided - January 1 and July 1, 2027. For some norms planned for July, an additional condition regarding the entry into force of another law also applies.
Earlier, on October 13, the Verkhovna Rada supported the draft law in the first reading. Now the document has passed the final parliamentary vote.
Based on materials: Ministry of Finance of Ukraine, Verkhovna Rada of Ukraine
