The Ukrainian State Fiscal Service Sept. 26 posted online a letter clarifying VAT on factoring transactions, in which a business sells its accounts receivables to a third party. The letter clarifies that VAT doesn’t apply to specific listed transactions, including cash, securities, and certificates. Therefore, factoring transactions on an account receivable in Ukrainian currency aren't subject to VAT.This happens after FCI cooperated with EBRD in 2018 and 2019 by educating the Ukrainian market on factoring through a workshop on Factoring.