LETTER OF THE STATE TAX SERVICE OF UKRAINE

of November 30, 2011 No. 6445/6/15-3415-26

GNSU considered the letter of Ltd company concerning inclusion in the tax credit of the VAT amounts paid to customs authorities in connection with increase in customs value of import goods and reports.

According to item 198.1 of Art. 198 of the Tax code of Ukraine of 02.12.2010 No. 2755-VI (further - the Code) the right to reference of tax amounts to the tax credit arises in case of implementation of transactions on acquisition or production of goods (including in case of their import to customs area of Ukraine) and services.

The tax credit of the accounting period according to item 198.3 of Art. 198 of the Code is determined proceeding from the contractual (contractual) cost of goods/services, but it is not higher than the level of regular prices determined according to article 39 of this Code and consists of the amounts of the taxes accrued (paid) by the taxpayer at the rate established by item 193.1 of Art. 193 of this Code during such accounting period in connection with acquisition or production of goods (including in case of their import) and services for the purpose of their further use in taxable transactions within economic activity of the taxpayer.

For transactions on import to customs area of Ukraine of goods date of emergence of the right to reference of tax amounts to the tax credit is the payment date (charges) of tax on the tax liabilities according to item 187.8 of Art. 187 of this Code.

At the same time according to item 201.12 of Art. 201 of the Code in case of commodity importation on customs area of Ukraine the document certifying the right to reference of tax amounts to the tax credit the customs declaration which is drawn up according to requirements of the legislation which confirms the tax discharge is considered.

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