The Tax Service Warned Importers About an Important Rule: Which Date Is Considered for Currency Control
Ukrainians are informed about the procedure for determining the date of advance payment for import transactions for currency control purposes.
According to the Law of Ukraine "On Currency and Currency Transactions," if the National Bank has established a deadline for settlements on import transactions, the delivery of goods must occur within the specified period from the date of advance payment.
For currency control, the date of the advance payment is considered the day the funds are debited from the resident's account. At this moment, the payer loses the ability to dispose of the money, and their obligation to make the payment is considered fulfilled.
The tax service noted that during international transfers, banks use a technical detail — the value date, which is indicated, among other things, in SWIFT system messages and other banking documents.
At the same time, the value date has exclusively a technical meaning for interbank settlements and does not affect the determination of the moment the payment is made by the payer.
Thus, the countdown of the deadline for settlements on import transactions starts from the date the funds are debited from the resident's account, not from the value date.
Taxpayers are advised to take this feature into account when planning and conducting settlements within foreign economic activity.
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