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any ideas on how Ukraine VAT is doing?

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Old 29th May 2009, 11:11
ralph_c ralph_c is offline
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Red face any ideas on how Ukraine VAT is doing?

hi everyone... not sure if anyone will know this but...

my company is considering trading in the Ukraine and I'm sort of researching the market basically... very early research that is. I was trying to find VAT details for Ukraine and found this EU VAT website with news and info on many countries inc. Ukraine.

does anyone know if this is accurate information?

much obliged for the help!

Thanks!
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Old 31st May 2009, 21:59
romiki romiki is offline
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Hi Ralph,

Basically, VAT in Ukraine functions as in other European countries subject to a set of peculiarities. There are two tax rates: 20% (regular rate) and 0%. As the general rule, any supply of good or services in Ukraine is subject to a 20% VAT rate.

Ukraine uses the input-output VAT model which means that any VAT registered company needs to account (as a rule, on a monthly basis) for output tax after deducting VAT paid on its inputs.

The law requires a mandatory VAT registration for the company which either 1. has an annual turnover of more than UAH 300,000, or 2. import goods into Ukraine. A voluntary VAT registration is also possible and is recommended in most cases.

Let me know if I can help you out with your tax questions.
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Old 1st June 2009, 11:31
Pitter Pen Pitter Pen is offline
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There are 4 biggest world audit companies - PWC, KPMG, Ernst&Young and Delloite. Each publishes its "Doing buisness in Ukriane" handbook. You can find them on the internet. They are quit usful as guidelines.
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Old 4th June 2009, 08:44
Hannia Hannia is offline
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PwC Ukraine: Publications: Doing business and investing in Ukraine
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Old 10th June 2009, 07:50
Rob_Burns Rob_Burns is offline
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My lawyers, Ackerman, Goltsblat & Partners, also have a nice publication about taxation in Ukraine. They can also help you with the practical aspects of taxation in Ukraine. You can contact Igor Goltsblat at igor.goltsblat@gmail.com
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Old 30th September 2009, 10:04
Legal support Legal support is offline
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There is a lot of information in the web concerning Ukranian taxation in general and VAT in particular. But for you the best way is to acquaint with general information about Ukraine, taxes, law etc. Such information is usually in "Doing business in Ukraine" - Doing business in Ukraine | Legalaid (example), but if you search you will find a lot of such information.
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