In November 2019 the VAT accruals have doubled last year’s figures

In August-November 2019, the taxpayers have transferred 255.4 billion UAH to the consolidated budget which is 27.8 billion UAH or 12.2% more than over the corresponding period of 2018. Taking into account that in November 2019 the consolidated budget has received 8.8 billion UAH or 12.7% more than in November 2018.

Over the last four months, accruals from taxes to the State Budget administered by the State Tax Service have amounted 157.7 billion UAH which is 11.3% or 16.0 billion UAH more than over August - November 2018.  

Growth of accruals is ensured, inter alia, by the exceeding of the income tax indicators. Thus, in November 2019 the budget received 22.9 billion UAH from this tax, which is 1.9 billion UAH or 8.8% more than was planned and by 4.5 billion UAH more than in November 2018.

Also, reducing the tax base in November 2019 compared to November last year by 1.5 billion to 19.3 billion UAH, the VAT charges declared to pay have increased. That is, the trend of increasing the VAT accruals is faster than the volume of supply. In particular, the growth rates of accruals according to the October declarations have amounted 108.3%, while the growth rates of supply volumes - 97.3%.

Also in November 2019, the VAT accruals from the manufactured goods (including refunds) have amounted 8.7 billion UAH which is twice as much as in November 2018.