Tax innovations in December: VAT reporting, tax invoice, tax invoice register

On December 1, Decrees 957 and 958 as of 22 September 2014 of the Ministry of Finance of Ukraine have come into effect, approving the new forms and procedures for completing a tax invoice and the register of tax invoices.

In addition, starting today the updated VAT reporting has come into effect. Decree 966 as of 23.09.2014of the Ministry of Finance of Ukraine approves:

• form of VAT declaration and its annexes;
• clarifying calculation for VAT liabilities according to the correction of self-identified errors;
• calculation of tax liabilities accrued by the recipient of services who is not registered as a payer of value added tax, which are delivered by non-residents, including their permanent representative offices that are not registered as tax payers in the customs territory of Ukraine;
• procedure for completing and filing tax returns for VAT.

According to paragraph 46.6 of the Tax Code, for December 2014 a new format declaration shall be submitted, and the payers reporting on a quarterly basis shall submit it for the 1st quarter of 2015.