The total amount of applications for budgetary value added tax (VAT) refunds in December exceeds UAH 14 billion, and it will be financed on time, said head of the State Tax Service Oleksiy Liubchenko.

"In December, we have full understanding that the application for UAH 14.1 billion will be given to payers, which didn't happen in December 2019," Liubchenko said on the air of Savik Shuster's program Freedom of Speech (Svoboda Slova) on Friday.

He noted that following the results of 11 months of this year, applications for budgetary VAT refunds amounted to UAH 122.7 billion, while UAH 128 billion was reimbursed during this period.