Entrepreneurs – legal entities of Ternopil region received budgetary value added tax reimbursement totaling 404 million UAH during January – September 2020. This was reported by Head of Main Directorate of the STS in Ternopil region Ivan Punko.
“It should be noted that the vast majority of declared by the VAT payers amounts are received as a result of an internal audits. Due to the effective operation of Electronic Register of VAT reimbursement, this tax is refunded in a timely manner. After all, such service operates in an open mode and demonstrates to the public that process of the VAT administration and reimbursement is automatic, transparent and eliminates any possibility of manipulation with reimbursement.” – explained tax official. Therefore, if the company does not manipulate the tax reporting indicators and does not use risky operations that can serve to minimize tax payments, it receives budgetary reimbursement within the timeframe specified by regulations.
Total of 127 businesses in the region reported about the VAT reimbursement during January – September 2020. Declared by the taxpayers amount for reimbursement is 377 million UAH.