Main Directorate of the STS in Chernivtsi region reported that the value added tax is the second largest revenue of the regional budget, namely more than 40% of revenues to the state budget. Bukovyn business paid 569 million UAH during January – August 2020, an increase is 69.2 million UAH comparing to the corresponding period in 2019. Amount of 80.4 million UAH was paid in August 2020. The indicative figure has exceeded 119.3%.
Tax specialists assure that positive dynamics of the VAT payment and timely budget reimbursement of declared amounts is facilitated by the electronic VAT administration, which has qualitatively improved algorithm of actions between the taxpayers and tax specialists. It is important that “electrification”, particularly the monitoring system for compliance of tax invoices / adjustment calculations with the risk assessment criteria mechanism and budgetary VAT reimbursement by the Treasury is done automatically to the single register in chronological order of receipt of applications and reduces risks during calculation of VAT payment.
Regional taxpayers declared 128.3 million UAH of budgetary reimbursement in 2020. Amount of 120.9 million UAH of the VAT was reimbursed from the budget without violation of deadlines.
Herewith, an illegal VAT reimbursement totaling 3.4 million UAH from 30 payers was prevented. Registration of risky tax invoices for 159.5 million UAH of the VAT or (2.8%) of the total amount of registered tax invoices was also detected and suspended.
List of risk taxpayers includes 438 taxpayers or 18.1% of the total number of the VAT payers.
In total, there are 2415 VAT payers registered in the region, including 2149 legal entities and 266 individuals – entrepreneurs. Their number increased by 12 business entities during January – August 2020, including legal entities (+ 20) and individuals – entrepreneurs (+8).