Ministry of Revenues explains
According to the Resolution of the Cabinet of Ministers of Ukraine of 21 August 2013 № 683, which defines the order of production, circulation, payment and collection of bills, for fiscal compensation a bill payer needs only to write an application to the Authority of revenues and duties, however, the amount of compensation shall be not less than 500 thousand UAH, the press service of the Ministry of Revenues informs.
However, those taxpayers under criminal proceedings for tax evasion or under administrative appeal shall not be eligible for Treasury bills.
Automatic budget refund, as before, will be carried in cash.
Ministry of Revenues stresses that VAT refunds with treasury bills will be implemented after approval by the Cabinet of Ministers of Ukraine of marginal recoverable amount. Following the publication of this Resolution, the Ministry will form registry of taxpayers that will receive VAT refund in form of Treasury bills within 5 working days.
In this regard the Ministry experts advise taxpayers to promptly apply for this method of compensation to their local fiscal bodies at place of registration.
According to the Ministry of Revenues’ inventory of VAT amounts claimed for refund, 12 billion UAH may be reimbursed through financial treasury bills.
