We expect 112 billion UAH of the VAT in 2020 – Oleksiy Lyubchenko

Press service of the State Tax Service of Ukraine, published 26 October 2020 at 14:42 Chapter: News

According to results of 10 months 2020, the State Tax Service will practically fulfill the VAT indicators set in the initial budget. This was stated by Chairman of the State Tax Service of Ukraine Oleksiy Lyubchenko in the second part of an exclusive interview with “Interfax-Ukraine”.

“Initially the VAT expectations were at the level of 96.8 billion UAH in the state budget for 2020, and then the plan was sequestered to 75.4 billion UAH. Then 2.2 billion UAH was added, of which 2 billion UAH was for the flood. That is 77.6 billion UAH. I confidently see 112 billion UAH this year. 85 billion UAH of the VAT has already been received.” – emphasized Oleksiy Lyubchenko.

“It is especially important that this happens with full and timely reimbursement of this tax despite the fact that 96 billion UAH has been claimed for reimbursement since the beginning of 2020, the state for the same time has reimbursed more than 104 billion UAH, fully repaying debts of previous years” – added Chairman of the STS.

According to him, the share of domestic VAT to GDP this year was planned to be 1.9%, next year – 2.9%. This figure is already expected at almost 2.8% in 2020.