Ukraine Tax Agency Clarifies Discontinuation of Reduced VAT Rate on Fuel Implemented Due to War

The Ukrainian State Fiscal Service July 11 clarified the discontinuation of a reduced VAT rate on fuel implemented due to the ongoing Russia-Ukraine conflict. The announcement is for VAT-registered entities selling specified fuel using accounting transaction recorders. The clarification explains that: 1) the reduced 7 percent VAT rate is cancelled as of July 1; 2) the basic 20 percent VAT rate applies to sales and imports of specified fuel as of that date; and 3) specified fuel includes motor gasoline, heavy distillates, liquefied gas, biodiesel, alternative motor fuel, and crude oil or oil products obtained from bituminous rocks. [Ukraine, State ...