Tax specialists prevented illegal VAT reimbursement totaling more than 3.5 million UAH

Tax specialists during a documentary audit of one business entity of Chernihiv region exposed formation of a tax credit by documenting operations for the purchase and lease of agricultural machinery. At the same time, this entity did not use this equipment in economic activity at all. Activity of this entity was to sell the products grown for export to a related party at meager prices.

As follows, forming a tax credit and carrying out deliberately unprofitable activities, the specified entity aimed not only at evading taxes to the budget but also to form a negative value and receive budgetary reimbursement.

Due to the coordinated actions of Main Directorate of the STS in Chernihiv region, numerous violations of tax legislation in activities of this entity were exposed. Illegal VAT reimbursement totaling more than 3.5 million UAH was prevented.

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