1 billion 731 million UAH of the value added tax was paid during January – October 2020 in Volyn region.
Thus, currently growth of the VAT payments is 29.1% comparing the corresponding period in 2019.
Main Directorate of the STS in Volyn region associated positive dynamics of the VAT revenues with a significant improvement in its administration and increased efficiency of tax specialists to combat risks.
“Our work on stopping the use of fictitious tax credit schemes is systemic. Without any pressure on business, we analyze activities of the VAT payers as quickly and efficiently as possible, especially those that create risks to budget revenues. The electronic format of interaction, in particular the work of Risk Assessment Monitoring System, makes it possible not only to detect risks in time, but also to prevent dubious business operations.” – emphasized Head Main Directorate of the STS in Volyn region Svitlana Savchuk.
Tax official of Volyn tax specialists specified that the process of suspending of tax invoices registration is automatic and eliminates the subjective factor.
“If there are substantiated taxpayer’s confirmations regarding the reality of business operation, the relevant tax invoices are registered. It is worth emphasizing that blocking tax invoices does not stop the entity’s activities, but only provides documentary explanations. But it is the timely cessation of registration of risky operations that prevents budget losses” – summarized Svitlana Savchuk.
Reference: Volyn business entities received reimbursement totaling 498 million UAH of the VAT during January – October 2020.
