14:10 14.12.2017

Investors alarmed with suspension of automatic VAT invoice blocking system – Fiscal service

1 min read
Investors alarmed with suspension of automatic VAT invoice blocking system – Fiscal service

Representatives of the economic department of the U.S. Embassy in Ukraine are alarmed with the temporary suspension of the automatic invoice blocking system for administration of value added tax (VAT), acting Head of the State Fiscal Service Myroslav Prodan has written on his Facebook page.

"Representatives of the United States point out our success in introducing the unified register of VAT refunding… However, representatives of the United States are alarmed with the temporary suspension of the automatic invoice blocking system for administration of VAT. Investors are concerned about the fact that the return of the system to the test mode could offset the large progress reached by the State Fiscal Service in the area of VAT administration," Prodan wrote on Wednesday, after a meeting with representatives of the U.S. Embassy where the participants discussed the issues exercising the U.S. business and investors regarding their operations in Ukraine.

Ukraine's Verkhovna Rada passed amendments to the Tax Code (bill No. 6776-d), foreseeing in particular, the suspension of the risky VAT system for two months.

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