<\/p>\n
The European Business Association calls for a mechanism to be introduced allowing excise duty paid on goods that have been destroyed, lost or damaged as a result of force majeure circumstances to be refunded or offset against future tax payments.<\/p>\n
This concerns situations where excise duty has already been paid on goods, but due to circumstances beyond the taxpayer\u2019s control, the products were not actually sold or consumed. According to information provided by member companies of the Association\u2019s Committee on Wine and Spirits, since the beginning of the full-scale invasion, the amount of excise duty paid on products lost as a result of hostilities has totalled at least UAH 117.7 million.<\/strong><\/p>\n Such a mechanism should be available subject to documentary evidence confirming the force majeure circumstances and the destruction, loss or damage of the products. This would help prevent situations where businesses bear a tax burden on goods that have not actually reached the final consumer.<\/p>\n The Association calls for relevant amendments to the Tax Code of Ukraine and for a clear and transparent procedure to be established in law for refunding or offsetting excise duty paid in cases where excise goods are irretrievably lost due to force majeure circumstances. The Association has already sent a corresponding letter to the Ministry of Finance of Ukraine and the Verkhovna Rada Committee on Finance, Tax and Customs Policy.<\/p>\n <\/p>","protected":false},"excerpt":{"rendered":" The European Business Association calls for a mechanism to be introduced allowing excise duty paid on goods that have been destroyed, lost or damaged as a result of force majeure circumstances to be refunded or offset against future tax payments. This concerns situations where excise duty has already been paid on goods, but due to […]<\/p>\n","protected":false},"author":33544,"featured_media":765672,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false},"categories":[4,5,22],"tags":[],"yoast_head":"\n