Ukraine's Fiscal Service reports about US$3.5 bln in VAT refunds in Jan-Sept

The State Fiscal Service of Ukraine has reported that it paid UAH 97.6 billion (US$3.5 billion) in value-added tax (VAT) refunds to taxpayers in January-September 2018, which was 11.5% up year-over-year.

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Taxpayers obtained UAH 12.4 billion ($441.6 million) in VAT reimbursement in September 2018 alone, which was 28% up y-o-y, it said.

"The average monthly VAT refunds also increased by 11.3%, or UAH 1.1 billion [$39.2 million], compared with the nine months of 2017. If UAH 9.7 billion [$345.4 million] on the average was paid to taxpayers every month in January-September 2017, this amount was UAH 10.8 billion [$386.5 million] in 2018. According to desk audits, 86% of claimed VAT has been reimbursed since the beginning of the year," it said.

As UNIAN reported, the State Treasury Service in 2017 reimbursed UAH 120 billion (or US$4.3 billion at the central bank's current forex rate) in VAT to taxpayers, which was 27.2% up on 2016.