Ukrainian exporters began to have VAT reimbursed

After a four-month break, Ukraine began to reimburse value-added tax for  exporters. 

This was stated by the head of the Verkhovna Rada Committee on Finance, Tax and Customs Policy, Danylo Hetmantsev, Ukrinform reports with reference to Telegram of the Rada TV channel.

“Unfortunately, we were forced to stop the reimbursement system for four months... But the war has its preconditions, and therefore, indeed, the state owned the business VAT reimbursement, which today we have been already starting to reimburse. The registration of tax invoices is going as usual, I have not heard from the businesses about any problems regarding refusal of registration or blocking of tax invoices”, - said Hetmantsev.

The people’s deputy emphasized that the state will not allow fraud with VAT.

“We will not give the opportunity to engage in marauding with the basic tax during wartime. But, on the other hand, all honest businesses, all honest businessmen will receive compensation without any restrictions, and will use the system in accordance with the law”, -  Hetmantsev said.

According to him, entrepreneurs will soon receive 9,5 billion UAH in VAT refunds for January.

“9,5 billion UAH has already been transferred to the Treasury. And business will receive this money in the nearest future. We were asked by exporters and other businesses to restore VAT refunds,” - he said during an all-Ukrainian telethon.

As Ukrinform reported, on March 3, 2022, the Verkhovna Rada adopted amendments to the Tax Code, which suspended VAT reimbursement to exporters during martial law.

The debt for January and February now amounts to about 20 billion UAH.

As reported by Ukrinform, in the first quarter of 2022, the state budget was implemented by 110%. This was facilitated by the results of the first two months of the year and tax revenues which were paid in advance.

In the second quarter, as a result of the military invasion of russia, the government predicted a significant  underfulfilment of the state budget.

Reference source:  Ukrinform



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