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Ukrainian car dealers selling used cars will pay VAT only from margin

Ukrainian car dealers selling used cars will pay VAT only from marginThe Verkhovna Rada has removed ambiguous interpretations of the Tax Code regarding transactions made on the used goods market. The measure allows official car dealers to sell used cars, providing they pay VAT only from their margin.

A total of 235 lawmakers backed bill No. 3046-d at first reading and 234 lawmakers supported the document at second reading.

Read also: Sales of new passenger cars in Ukraine 34% up in Jan-Feb

"This is a bill on trade-ins. The philosophy is as follows: if a dealer-who pays VAT acquires a car from an individual who did not pay VAT and then sells the car to another non-payer of VAT, the state requires proof of uniformity – the car is to be made in the same year and its model is to be the same. VAT is paid for the whole sum. The state has received VAT once when a person bought the car and wants to have more VAT paid. The bill proposes collecting [VAT] only from the margin," one of the authors of the measure Robert Horvat said.
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