Oleksiy Lyubchenko: STS has achieved record values of the VAT tax efficiency

Press service of the State Tax Service of Ukraine, published 17 August 2020 at 16:55 Chapter: News

The VAT tax efficiency has been achieved at a record level for the last 10 years, namely 3.03% according to declarations of January – June 2020. This was stated by Chairman of the State Tax Service of Ukraine Oleksiy Lyubchenko during a meeting of the STS Board.

According to him, tax efficiency increased from 2.67% in April 2020 to 3.15% in May2020; 3.33% in June 2020 and 3.14% in July 2020. For comparison over the same period in 2019, this figure was 2.68%.

The average monthly VAT revenues during May – July 2020 increased to 8.5 billion UAH or 1.4 times more than during the same period in 2019.

“We have such results due to the destruction of tax evasion schemes. We have practically stopped the mass existence of such concept as a scroll and minimized the possibility of forming fictitious VAT tax credit.” – stated Chairman of the STS Oleksiy Lyubchenko.

It was possible to improve the VAT administration efficiency due to the transition to model of rapid response to tax risks which has already allowed involving 11.8 billion UAH.