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VAT Regulations on the Sale of Agricultural Products
VAT Regulations on the Sale of Agricultural Products
According to Article 13.2.63 of the Tax Code, wholesale trade is defined as the sale (provision) of goods to the buyer for the purposes of their entrepreneurial activity, carried out exclusively through the issuance of an electronic invoice (e-invoice) in accordance with the procedures established by this Code.
Starting from January 1, 2022, for a period of five years, the amount of Value Added Tax (VAT) on wholesale and retail sales of agricultural products (of local and foreign origin) shall be calculated based on the trade markup.
Please note that if the purchase of agricultural products (local and foreign origin) made after January 1, 2022, is formalized through an electronic invoice, import customs declaration, and the related invoice, as well as an electronic purchase act, and the wholesale and retail sale of such products is documented accordingly with an electronic invoice and a control cash register receipt, then VAT shall be calculated based on the trade markup for a period of five years from the mentioned date.
If the purchase of agricultural products is not documented with an electronic invoice, import customs declaration and the related invoice, as well as an electronic purchase act, and the wholesale and retail sale is not formalized with an electronic invoice and a control cash register receipt, VAT will be calculated based on the total turnover.
According to Article 13.2.63 of the Tax Code, wholesale trade is defined as the sale (provision) of goods to the buyer for the purposes of their entrepreneurial activity, carried out exclusively through the issuance of an electronic invoice (e-invoice) in accordance with the procedures established by this Code.
Starting from January 1, 2022, for a period of five years, the amount of Value Added Tax (VAT) on wholesale and retail sales of agricultural products (of local and foreign origin) shall be calculated based on the trade markup.
Please note that if the purchase of agricultural products (local and foreign origin) made after January 1, 2022, is formalized through an electronic invoice, import customs declaration, and the related invoice, as well as an electronic purchase act, and the wholesale and retail sale of such products is documented accordingly with an electronic invoice and a control cash register receipt, then VAT shall be calculated based on the trade markup for a period of five years from the mentioned date.
If the purchase of agricultural products is not documented with an electronic invoice, import customs declaration and the related invoice, as well as an electronic purchase act, and the wholesale and retail sale is not formalized with an electronic invoice and a control cash register receipt, VAT will be calculated based on the total turnover.