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Ukraine VAT cut and compliance reform

  • VAT
  • 07 December 2010 | Richard Asquith

Ukraine VAT cut and compliance reform

In November 2010, the Ukrainian Finance Minister issued an announcement of future planned cuts to the Ukrainian VAT rate and other compliance changes. This came as part of a range of VAT compliance changes in the new Ukrainian Tax Code. Below is a summary

  • The VAT rate will be reduced from 20% to 17% with effect from 1 January 2014;
  • The threshold for VAT registration will now be UAH 300,000 - approx. EUR 30 000;
  • Automatic 23-day VAT refunds for resident Ukrainian enterprises;
  • For the refund of tax credits in Ukraine, VAT invoices must be included in a return within 12 months of their issuance date; and
  • Accounting, legal and audit services will no longer be liable to VAT.

VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.