Business entities of Volyn region paid 1 billion 274 million UAH of the value added tax to the state budget during January – August 2020.
Amount of the VAT transferred to the state budget in Volyn region is 23.1% higher than in 2019.
“Growth in the VAT payments is reasoned not only by the economic recovery after a strict period of quarantine restrictions but also by a significant improvement in the VAT administration. By stopping fictitious business operations through the Risk Assessment Monitoring System, tax specialists create more favorable conditions for transparent and legal business activities. It is our counteraction against dubious business operations that allows honest business entities to receive budgetary VAT reimbursement in a timely manner” – emphasized Head of Main Directorate of the STS in Volyn region Svitlana Savchuk.
Head of Volyn tax specialists assured that the STS specialists minimize the possibility of forming a fictitious tax credit by unscrupulous business.
“All tax evasion schemes must be destroyed, so I ask business representatives to carefully analyze their own business activities and avoid dubious business contacts, which will later give grounds to include payer in the risk group. Although monitoring system for compliance of tax invoices / adjustment calculations with the risk assessment criteria does not restrict business entities to supply and purchase goods but being in a risk group creates additional inconveniences, such as providing explanations and documents to confirm the reality of business operations.” – summarized Svitlana Savchuk.
For reference: Volyn business entities received 371.1 million UAH of reimbursed value added tax during January – August 2020.