It should be reminded that on August 8, 2020, Law of Ukraine “On Amendments to the Tax Code of Ukraine on the Functioning of User Account and Simplification of Work of Sole Proprietors” No. 786-IX of July 14, 2020, relating to the administration of value added tax (hereinafter – VAT).
Thus, for VAT payers who also pay single tax and apply the quarterly reporting (tax) period, the last quarterly reporting (tax) period for filing VAT returns is the second quarter of 2020.
The first monthly VAT reporting (tax) period for such payers is July 2020.
The amount of penalty for violation of the deadline for registration of tax invoices and/or adjustment calculations to these tax invoices by VAT payers in the Unified Register of Tax Invoices has also been reduced:
- in case of non-registration – 2.5% (previously 5%) of the volume of supply without VAT, but not more than 1,700 UAH (previously 3,400 UAH);
- in case of late registration – 1% (previously 2%) of the volume of supply without VAT, but not more than 510 UAH (previously 1 020 UAH).
