Photo from UNIAN
Chief of the State Fiscal Service of Ukraine Roman Nasirov says that the state owes UAH 20 billion in value added tax (VAT) refunds to businesses, while overpaid corporate tax for previous periods amounts to about UAH 28 billion, and he insists that these debts should be cleared by the end of the year.
"We've got a little bit more than UAH 20 billion in delayed VAT refunds and there is about UAH 27-28 billion in overpaid corporate tax. This is the 'legacy' we've been unlucky to inherit from the previous authorities. We've tried to reduce the debts this year as much as possible," he said at an official ceremony to sign a Memorandum with the Anti-Crisis Council of Non-Governmental Organizations.
"This should be approached in a consistent manner. We are not talking about categorically large sums. My position is that we should solve the issue by the end of the year, so we start the year 2016 with a zero balance regarding both figures," Nasirov said.
According to him, the matter can be tackled either through securitization to repay the debts or payment by installments within the regulatory framework.
In addition, Nasirov said that at his initiative the government had raised the limit sum of VAT refunds in the current year by UAH 7 billion to UAH 65 billion.
"I have been insisting to make it by UAH 12 billion, but it has been UAH 7 billion so far. I think we will revise that figure by the end of the year," Nasirov said.
As UNIAN reported earlier, the State Fiscal Service's head expects that the Finance Ministry will issue bonds worth up to UAH 20 billion in November to repay delayed VAT refunds to businesses.
The total amount of regular VAT reimbursements to companies in August 2015 shrank by 34.1% from July 2015, to UAH 4.46 billion. VAT refunds in January-August 2015 totaled to UAH 37.931 billion.