On Wednesday, February 17, at 3:00 P.M., a webinar "Reduction of the VAT rate to 14%: how farmers will work" will be held for the heads of agricultural enterprises. The event will provide answers to the most common questions:
- What is the benefit of the draft law for farmers;
- Why not to expect complications in VAT management;
- How the VAT rate reduction will affect the manufacturer, processor and trader;
- Will the inflow of money on the account decrease with the reduction of VAT to 14%.
Speaker: Olha Bohdanova - the Deputy Minister of Finance of Ukraine Adviser, Managing Partner of Crowe Erfolg Ukraine (member of Crowe Global), Deputy Chairman of the Tax Administration, Deputy Chairman of the Tax Committee at the CCI.
"Farmers have a lot of fears related to the implementation of the provisions of this bill. For example, they are worried that there will be tax inspections, as the amount of the VAT credit may be higher than the VAT liability. This situation can arise when a farmer makes capital investments - in the construction of elevators, warehouses, machinery, etc. However, I do not see any problem. Farmers who are not engaged in "aggressive" optimization will have such inspections and receive VAT refunds. Let's remember the pharmaceutical industry. It buys all raw materials at a rate of 20% and sells at a rate of 7%. They always have a negative VAT value, which the state reimburses them all the time,” Olha Bohdanova emphasizes.
To be registered for the webinar, follow the link: https://forms.gle/cMAUrpvWxiYdwiee8
Participation in the webinar is free.Monday, 15 February 2021