Ministry of Revenue informs
If a bank receives in possession a collateralized property from entrepreneurs (legal entity or individual), registered as payers of value added tax, the bank has the right to create a tax credit for such an operation, based on information received from the taxpayer's tax bill, as the website of Ministry of Revenue informs.
If a bank is in possession of collateral items originating from individuals or businesses (legal entity or individual), not registered as payers of value added tax, the bank has no reason to create a tax credit for such operations.
Details on these and other questions about features of VAT taxation on bank’s supplying the collateral property are in the General tax advice on the features of value added tax application on the supply of banks with collateral property, approved by the Ministry of revenue and duties of Ukraine from 22.11.2013 №700.
