Fiscal service assesses possible remainder of non-refunded VAT at UAH 4.7 bln
The State Fiscal Service has assessed the possible remainder of non-refunded value added tax (VAT) at UAH 4.7 billion, according to a temporary register.
"As of January 1, 2018, the possible sum of the remainder for non-refunded VAT declared for refunding to the bank accounts of taxpayers placed to the temporary register was UAH 4.7 billion," the authority wrote on its Facebook page.
Some UAH 4 billion is being challenged, the authority said.
The Cabinet of Ministers approved amendments to the Tax Code that will regulate the procedure for VAT refunds on applications submitted before February 1, 2016 and for which the compensation was not received as of January 1, 2017. The entire amount of non-refunded VAT will be placed to the temporary register. VAT will be refunded in the chronological order on a first-come, first-served basis.