As a result of the military aggression of the Russian Federation against Ukraine, accompanied by the introduction of martial law in Ukraine from February 24, 2022, many agricultural enterprises affected by the hostilities are facing the destruction of assets. The affected companies are constantly experiencing losses of fixed assets and inventory. The most common question that arises is whether it is necessary to accrue VAT liabilities when writing off destroyed assets.

Within the project “Supporting agricultural MSMEs affected by active hostilities or Russia’s temporary occupation” implemented by the Ukrainian Agri Council (UAC) with the support of the USAID AGRO Program, experts have prepared a reference on the rules for inventorying and writing off destroyed assets.

The document is available here: https://drive.google.com/file/d/1XB90fSzUj2-d6ZhHixGWW7aWOLrZC8iK/view?usp=sharing

We remind that the UAC, with the support of the USAID Agriculture Growing Rural Opportunities Activity in Ukraine (AGRO), is implementing a joint project to provide legal and other expert support to agricultural producers affected by hostilities or temporary occupation by the Russian Federation.

Thanks to the project, affected agricultural producers will receive individualized advice on land, agrarian, tax legislation, etc. For prompt legal support, please contact the hotline at +38 067 503 19 08.