VAT refund from 1 February 2016 will have two open registries.
The Verkhovna Rada has decided to create a 1 February 2016 two public open register of the same chronological reimbursement of value added tax (VAT): one – for the automatic compensation of eligible taxpayers, the second – for the rest.
The relevant provision is contained in the draft law №3688 “On Amendments to the Tax Code to balance the budget revenue in 2016” adopted on 24 December.
The Head of the profile of the tax committee, presenting the document, noting that the number of VAT payers who are entitled to automatic compensation, are excluded companies that were exporting but had an investment of more than 3 million USD per year.
“We leave only those who export operations more than 40%”, – said the Head of the committee.
According to her, if you have previously dropped out of automatic compensation of the subjects had a tax debt, but now they will be able to get a refund but minus the tax debt.
In addition to being included in the new law rule on the possible transfer of sums in respect of VAT refund payments.
