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Following discussions on finding the ways to solve problems with VAT refunds to some agricultural enterprises, Ukraine’s Ministry of Finance has stated that measures are to be undertaken within a month to upgrade the electronic VAT administration software, according to the statement published on the ministry's Web site.
The ministry said that the electronic VAT administration system is operating in test mode, and the technical problems are being monitored, and quick solutions are to be worked out.
It also noted that the reason for the non-refunding of VAT to some agricultural enterprises of value added tax from electronic VAT accounts of the Treasury to special accounts is a lack of funds in such accounts, as individual farmers failed to replenish their VAT accounts in the Treasury.
According to the ministry, the parties have agreed on the terms of reference, and the software will be further developed through the creation of payment files. Until that time, the ministry has instructed the State Fiscal Service to send modified registers to the Treasury on a daily basis and inform taxpayers of the need to replenish the electronic VAT accounts in the Treasury.
As UNIAN reported earlier, on January 1, 2015, a law came into force on amendments to the Tax Code of Ukraine envisaging the introduction of an electronic system of VAT administration, which is operating in a test mode from February 1 until July 1, 2015.
According to the State Treasury Service of Ukraine, the amount of VAT refunds to businesses in March decreased by 1.4 times - to UAH 2.965 billion compared to February 2015.