Legal Alliance told about upcoming changes in the field of VAT administration
On 21st of November Legal Alliance Company held a workshop concerning Сhanges in VAT administration, 2015. Speaker of this seminar was the partner with Legal Alliance Company, head of tax practice – Anatolii Menshikov.
In workshop took part counsels, accountants, chief financial officers of pharmaceutical companies. Mr. Menshikov told about the latest changes in the field of VAT administration and made comparison study of VAT administration in Ukraine and other countries.
Speaker made in-depth analysis Law of Ukraine dated 31.07.2014 #1621-VII On making amendments to the Tax code of Ukraine and others legislative acts of Ukraine.
The main stress was made on detail examination of renewed mechanism of VAT administration, its components and consequences for business.
During the presentation were shown 2 schemes of potential agreements according to which members of the event had an opportunity to see a new mechanism in action. Individual block of presentation was dedicated to the right filling VAT invoice.
Anatolii Menshikov distinguished a number of disadvantages working with a new system of electronical administration of VAT. Among them planning of procurements/deliveries, potential problem with accounting of negative value expecting to January 1, 2015, technical moments of administrations, extra pressure on current assets of payers, indetermination of transitional provisions and others.
In the end speaker gave useful recommendations how to avoid problems mentioned above.
