The State Fiscal Service of Ukraine (SFSU) plans to reimburse UAH 96 billion in value-added tax (VAT) to businesses by the end of the year, while facilitating the reimbursement process as a whole, SFSU Head Roman Nasirov stated at a briefing in Kyiv.
”We have already paid UAH 48 billion in VAT refunds out of the UAH 322 billion due. This amount is much higher in comparison with last year. By the end of the year, we plan to reimburse UAH 96 billion in VAT. And the key point is, that by that time, we plan to enable companies to receive VAT refunds in the second month after submitting a tax return,” Nasirov said.
As UNIAN reported earlier, the volume of VAT refunds to Ukrainian businesses in June decreased to UAH 193 million from UAH 6.7 billion reimbursed in May this year. The State Treasury Service of Ukraine resumed reimbursements on July 8.
The volume of [VAT] refunds in July amounted to UAH 12.11 billion, the maximum amount, so far, in 2016. This year, the Verkhovna Rada has obliged all agricultural enterprises to pay VAT in certain proportions, whereas previously farmers were accountable for the entire amount of payments under VAT.