Electronic register of VAT refund launched in Ukraine
Now every entrepreneur can online to check what is the status of his payment
On Saturday, April 1, the Ministry of Finance has launched an electronic register of VAT refunds.
This was reported on the official website of the Ministry of Finance.
“According to the law, it will be available on the first business day of April, 3 numbers. Now every entrepreneur can online to check what is the status of his payment”, – is spoken in the message.
The Ministry explained that all incoming information in the register creates the State fiscal service on the basis of demands of the business and secures it with digital signature. After that, the approval of the amount is given no more than 30 days (in cases stipulated by law – 60 days) and automatically refund on the next day after the end of this period.
“Compensation occurs in chronological order (the entrepreneur who first filed, first receives funds under all other equal conditions) and on a daily basis. Previously VAT was reimbursed in the last 5 days of the month.”, – explain in the Ministry of Finance.
Now to return the VAT will be in any day of the month after approval of the amount. Consequently, the business will be able to better plan their activities and will receive additional working capital, starting from 10-th of each month.
The Department believes that this registry will make it impossible for corruption in the VAT refund, will restore confidence in business and will create equal conditions for every entrepreneur.
Recall Groysman called the main challenge in creating the system of VAT reimbursement.