VAT refunds in Ukraine 37.9% up in 2016

12:30, 03.01.2017 1 min read

VAT refunds in Ukraine in 2016 totaled UAH 94.3 billion (in December UAH 15.9 billion), which is 37.9% more than in 2015 (UAH 68.4 billion) and 87.8% more than in 2014 (UAH 50.2 billion).

"In 2016 VAT worth UAH 94.3 billion was refunded. This is 40% more than last year. Overpayment of income tax to the national budget was reduced by UAH 10 billion," according to the State Fiscal Service website.

According to the website of the National Bank of Ukraine, in November VAT in the amount of UAH 6.1 billion was reimbursed, which is less than in the previous month and the corresponding month last year: this led to accumulation of the debt corresponding to almost UAH 19 billion.