Valid from 01.01.2022. Are individuals-entrepreneurs – single tax payers of Groups II – IV obliged to keep inventory accounting and confirm their origin with primary documents?

Press service of the State Tax Service of Ukraine, published 29 December 2021 at 18:38 Chapter: News

Paragraph 12 Article 3 of the Law of Ukraine as of 06.07.1995 № 265/95-VR “On the use of registrars of settlement operations in trade, catering and services” with changes and amendments stipulates that business entities that carry out settlement operations in cash and / or non-cash form (using electronic payment means, payment checks, tokens, etc.) during the sale of goods (services) in trade, catering and services, as well as operations with acceptance of cash for its further transfer are obliged to keep inventory accounting in the manner prescribed by law and to sell only those goods (services) that are reflected in such accounting.

Procedure and form of inventory accounting for individuals-entrepreneurs, including single tax payers, is established by the central executive body and ensures formation and implementation of public financial policy. In this case, the business entity is obliged to provide supervisory authorities at the beginning of audit with documents (in paper or electronic form) confirming accounting and origin of inventories (including but not limited to, inventory documents, documents confirming receipt of goods from other business entities and / or documents for internal movement of goods, which at the time of audit are in the sales place (business object).

Such requirements are not applicable to individuals-entrepreneurs – single tax payers and are not registered as value added tax payers (except for those involved in sale of technically complex household goods subject to warranty repair, as well as medicines and medical devices, jewelry and household products made of precious metals, precious stones, precious stones of organogenic formation and semi-precious stones).

More information is in the “Knowledge Base” of public information and reference resource