of July 5, 2000 No. 9243/7/16-1220-22
About the value added tax on the transactions which are not providing the conclusion of any agreements
State Tax Administration of Ukraine... about determination of date of emergence of the tax liability by transfer of sugar on terms of return it in later time without execution of any agreement is reported by the following.
By the law of Ukraine of 03.04.97 N 168/97-BP "About the value added tax" (further - the Law on the VAT) it is determined that the taxation object on value added are transactions of taxpayers on sales of goods (works, services) on customs area of Ukraine. At the same time by Item 1.4 of Art. 1 of the Law on the VAT it is determined that the sales of goods are the any transactions performed according to purchase and sale agreements, exchanges, deliveries and to other civil agreements which are not providing assignment of rights of property on such goods for compensation irrespective of terms of its provision, and also transaction on free provision of goods.
Article 37 of Chapter 32 of the Civil code of Ukraine provides that according to the loan agreement one party (creditor) transfers to other party (borrower) to the possession (in operational management) the money or objects determined by patrimonial signs, and the borrower shall return to the creditor the same amount of money or equal quantity of objects of the same sort and quality. The loan agreement is considered put in date of transmission of money or objects.
As the agreement of commodity loan provides delay of final settlements in commodity form and the specified transactions fall under legislative determination "sales of goods", transactions on sale (transfer) of goods within agreements of commodity loan are subject to taxation on value added at the complete rate of tax in the amount of 20 percent of the taxation basis determined according to article 4 of the Law on the VAT.
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