Rate lowered
In January 2014 new reduced VAT rate comes into force; it will apply only to commitments arising after 1 January.
The VAT rate is calculated in accordance with the date of the chargeable event, i.e. if it arose between January and December 2013, the VAT rate is 20%, and only commitments arising from January 2014, will be taxed at 17% (p. 10 Subsection 2 of Transitional Provisions of the Tax Code of Ukraine).