Ukraine says VAT refunds in January set new high

Photo from UNIAN The State Treasury Service of Ukraine says UAH 19.71 billion (US$714.9 million) in value-added tax (VAT) refunds was returned to taxpayers in January 2019, according to the agency&#39;s website. Ukraine&#39;s Finance Ministry said VAT refunds in January set a new record high. The VAT reimbursement included UAH 8.7 billion ($315.6 million), which was paid according to November declarations based on desk audits. Read alsoRevenue of Ukraine&#39;s consolidated budget grows by 12% to over US$3.1 bln in Jan "VAT refunds occur automatically, even if the amount to be reimbursed, after completing the checks, exceeds the planned figure for a month," the ministry&#39;s press service said on January 5. As UNIAN reported earlier, VAT refunds in January 2018 totaled UAH 12 billion ($435.3 million). The State Treasury Service in 2018 reimbursed UAH 131.7 billion (or $4.8 billion) in VAT to taxpayers, which was 9.6% up on 2017. The major taxpayers that obtained VAT reimbursement in 2018 were PJSC llylch Iron and Steel Works of Mariupol, Kernel Trade LLC, ADM Trading Ukraine, Nibulon Ltd., and PJSC Azovstal Iron & Steel Works.

Ukraine says VAT refunds in January set new high

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