The National Bank of Ukraine is completing the transition to an updated hryvnia banknote and coins, which are more secure and counterfeit-proof, provide convenience of cash payments and saves state’s money.
For this purpose, 5 and 10 hryvnia coins will be put into circulation, which will gradually replace paper banknotes. At the same time, updated banknotes of 50 and 200 hryvnias with an improved security system will be introduced, which in their design are similar to the new generation of hryvnia banknotes of 20, 100, 500 and 1 000 hryvnia. With these innovations, the National Bank will complete the optimization of the current nominal hryvnia series, which has been used since 2014.
Key dates:
- December 20, 2019, 5 UAH coin will be put into circulation and 50 UAH hryvnia banknotes will be updated;
- February 25, 2020, updated notes of 200 UAH will appear in circulation;
- In mid-2020, 10 UAH coins will be put into circulation (the exact date will be announced additionally).
Citizens do not need to exchange banknotes with denominations of 5, 10, 50 and 200 hryvnias for upgraded banknotes and coins. They will be able to settle for an unlimited period of time with both new banknotes and previous banknotes of the respective denominations.
Banknotes with denominations of 5 and 10 hryvnias of the previous years of issue will gradually be replaced by circulation of coins and upgraded banknotes as a result of natural wear and tear.
The State Tax Service of Ukraine in the individual tax consultation “On the procedure of tax invoicing and adjustment of VAT liabilities” No. 55/6/99-00-07-03-02-15/ІПК of September 6, 2019 clarified the procedure for preparing tax invoices and adjusting VAT tax liabilities in case of transfer of debt to a new debtor.
The original debtor (supplier) had to determine the VAT liability, prepare a tax invoice for the creditor and register it in the Unified register of tax invoices (hereinafter – URTI) on the date of transfer by the creditor (buyer) of funds to his bank account (cash desk) as prepayment (advance payment) for the services of manufacturing the product.
The transaction of transferring the debt from the original to the new debtor does not involve the supply of goods/services and is therefore not subject to value added tax (hereinafter – VAT). Therefore, such a transaction does not give rise to any VAT liability for the original debtor.
After the transfer of the debt, the creditor prepayment (advance payment) is transferred to the account of the new debtor and not the creditor. In this case, there is no legal basis for calculating the adjustment for the reduction of the VAT liability of the original debtor. In fact, none of the circumstances mentioned in clause 192.1 of the Tax Code of Ukraine (hereinafter – CCU) arises.
Due to the fact that after the transfer of the debt, the creditor will receive services for the manufacture of the product from the new debtor, such creditor loses the right to a previously formed VAT credit on the basis of the tax invoice, prepared and registered with the URTI by the original debtor. Indeed, the actual delivery of the services for the manufacture of the product to the creditor, for which the prepayment (advance) was transferred, by the original debtor did not occur. In this case, the creditor is obliged to reduce the amount of VAT included in the tax credit by accruing VAT liabilities, preparing and registering with the URTI the consolidated tax invoice according to the rules specified in item 198.5 of the TCU.
Provision by the new debtor of the services to the creditor at the expense of a prepayment received from the original debtor for such services, which was previously transferred by the creditor to the original debtor, is the second event. Therefore, there are no grounds for preparing tax invoice for the creditor by the new debtor.
The State Tax Service of Ukraine through the Office of Large Taxpayers informed that the negative amount (line 20 in the declaration) is subject to budgetary compensation (in line 20.2) to the account of the payer in the bank (in line 20.2.1) and/or to the payment of monetary obligations or repayment of tax debt from other payments paid to the State Budget (in line 20.2.2) (subitem 4 of item 5, chapter 5 of order of the Ministry of Finance No. 21 of January 28, 2016 “On approval of forms and Procedure for preparing and submitting value added tax returns”).
Determination of the amount of tax payable (transferable) to the State Budget or compensation from the State Budget (budgetary compensation), and the terms of calculations are carried out in accordance with Art. 200 of the TCU.
In accordance with i. 200.1 of the TCU, the amount of tax payable (transferred) to the State Budget or budgetary compensation is defined as the difference between the tax liability of the reporting (tax) period and the tax credit amount of such reporting (tax) period.
In the case of a negative value of the amount calculated in accordance with this item of Art. 200 of the TCU, such amount, in particular, is subject to budgetary compensation at the taxpayer's request in the amount of tax actually paid by the recipient of goods/services in the previous and reporting tax periods to the suppliers of such goods/services or to the State Budget, in part not exceeding the amount calculated in accordance with i. 2001.3 of the TCU.
The date of deduction of tax amounts to tax credit is the date of the event that has occurred earlier: the date of debiting of funds from the bank account of the taxpayer for payment of goods/services; date of receipt of the goods/services by the taxpayer (i. 198.2 of the TCU)
Therefore, in the case of prepayment for goods/services by the suppliers, the taxpayer is entitled to the tax credit, exceeding of which over the tax liability entitles the payer to claim a budgetary VAT refund.
The State Labor Office of Ukraine informed on what to do if the employer does not pay the worker maternity allowance.
Maternity allowance is paid on the basis of a letter of disability issued in accordance with the order of the Ministry of Health of Ukraine No. 455 of November 13, 2001. The allowance is available immediately for the entire period of maternity leave.
According to Art. 32 of the Law of Ukraine “On compulsory state social insurance” No. 1105 of September 23, 1999 the documents for assigning maternity allowance by the social insurance commission are considered not later than 10 days from the day of their submission, after which the decision is made. about the allocation of funds or the refusal to provide them. The applicant shall be informed of the decision no later than five days after it was taken.
The procedure for financing by the Social Insurance Fund of Ukraine of insurers is defined in Art. 34 of the Law of Ukraine “On compulsory state social insurance” of No. 1105 of September 23, 1999.
Funding of insurers for providing financial support to insured persons is carried out by the working bodies of the Fund in the manner established by the Board of the Fund. The basis for financing the insurers by the working bodies of the Fund is a statement-calculation based on the established sample, containing information on the amount of material security accrued to the insured persons by their types.
The working bodies of the Fund finance the policyholders within 10 working days after the application is received.
The insurer opens a separate current account for depositing insurance funds with banks in the manner established by the National Bank of Ukraine.
Funds of the Fund entering the specified account are recorded on a separate subaccount.
Insurance funds credited to a separate current account at a bank or to a separate account in a body that performs treasury servicing of budget funds (hereinafter – separate account) may be used only by the insurer to provide financial support and social services to insured persons. Insurance funds credited to a separate account may not be directed to satisfy the claims of creditors, to pay charges on the basis of executive and other documents, which are subject to charges accordance with the law.
Maternity allowance is payable immediately for the entire period of maternity leave, within the shortest period after the date on which the benefit is set, the period established at the enterprise for payment of salary.
If the employer does not pay of assistance in connection with temporary disability, pregnancy and childbirth, on the basis of Art. 55, 124 of the Constitution of Ukraine, Art. 232, 238 of the Labor Code, Art. 17 of the Law of Ukraine “On compulsory state social insurance” the employee has the right to apply directly to the court, having submitted the relevant application in the order of the Civil Procedural Code of Ukraine.
