Oleksiy Lyubchenko: 104.3 billion UAH was reimbursed upon the request of 96 billion UAH. This has never happened before

Press service of the State Tax Service of Ukraine, published 20 October 2020 at 10:08 Chapter: News

104.3 billion UAH of the VAT was reimbursed upon the request of 96 billion UAH according to the results of January – September 2020. That is, the STS began to reduce unreimbursed VAT balances accumulated on the 1^st of January. Such results have never been achieved before. This was stated by Chairman of the STS Oleksiy Lyubchenko in an interview with the Interfax-Ukraine news agency.

“11.5 billion UAH was claimed and reimbursed in September 2020. Amount by 0.2 billion UAH and 0.4 billion UAH was declared more than was reimbursed in July – August 2020. And from April to June the reimbursement exceeded claimed amounts: in April by 2.2 billion UAH (in fact 12 billion UAH was reimbursed), in May by 1.2 billion UAH (12 billion UAH was reimbursed) and in June by 0.8 billion UAH (11.6 billion UAH was reimbursed). That is, we also pay off the debts” – emphasized Oleksiy Lyubchenko.

He also stated that the average monthly efficiency was 3.2% in September 2020, 2.67% in April 2020, meanwhile 2.68% in 2019.

“We saw a paradoxical situation. In fact, volume of the VAT declarations is a micromodel of GDP and from February to April it was declining, but in July – August 2020 returned to growth. The growth rate is good: it was about 550 billion UAH per month and now it has exceeded 700 billion UAH” – noted Oleksiy Lyubchenko.

According to him, some “eternal” industries are beginning to revive, namely trade, food and light industry. Figures are also rising because violators are unable to legalize smuggling, which means that white business entities have less unfair competition and less pressure.

“When we first met with journalists in the spring, I made it clear: “minus” 44 billion UAH meant that the whole country did not fulfill a plan for the general fund of the state budget. As of the 1^st of October 2020, there was already “minus” 10 billion UAH. We will cover at least another 5 billion UAH in October 2020. Fulfillment of the general fund of the state budget is expected at 108.5% or almost 33 billion UAH in January – October 2020. And if all other administrators of budget revenues reach “zero”, it will be necessary to cover 5 billion UAH for two months. This is quite real, and the Government will have to think not about the administration of domestic taxes but only about managing the public debt.” – assured Oleksiy Lyubchenko.