The State Fiscal Service plans to refund business VAT for UAH 96 billion and speed up the refund process.
“Out of UAH 322 billion we have already refunded UAH 48 billion of VAT. This is much more than the previous year, but by the end of the year we plan to refund 96 billion. The main thing is that by the end of the year we plan that companies obtain VAT refund on the second month after the submission of declaration”, Nasyrov said.
According to him, this month is dedicated to the cameral tax audit, and then next month the refund will be paid, currently this process takes 3 months.
As it was reported, the volume of VAT refund to business entities in Ukraine decreased to UAH 193 million from UAH 6.7 bln, refunded in this May.
The Department of Treasury renewed VAT refund from July 8. The amount of funds in July made up UAH 12.11 billion, which is the maximum amount in 2016.
In 2016 the Verkhovna Rada obligated all agricultural companies to pay VAT in certain proportion, while previously the whole amount of the accrued tax remained at the accounts of agrarians.
As the compensation the Parliament renewed VAT refund practice while exporting grains, which was cancelled in 2014, SFS Chairman Roman Nasyrov said during the briefing in Kyiv.
