In absence of VAT refund, 2017 state budget target in January topped by 38.7%
Revenues of Ukraine's state budget in January of 2017 totaled UAH 59.44 billion, which is 38.7% or UAH 16.59 billion more than the target, the State Treasury Service said in a report posted on Wednesday.
According to the report, against the same period of 2016, the revenues increased by UAH 29.81 billion, or more than doubled.
One of the main causes for this is virtually complete absence of the value added tax reimbursement in the first month of this year. According to the State Treasury, in January, the budget received VAT to the tune of UAH 33.6 billion, while its refund totaled UAH 0.03 billion compared to UAH 7.89 billion in January of last year.