VAT refund is 12 million UAH
Since the beginning of the year the total amount of VAT refunded to taxpayers of Holosiivskii district is more than 76 million UAH, informs the press service of STI Holosiivskii district of Directorate of Ministry of Revenues in Kyiv.
Automatic VAT refund amounts to approximately 12 million UAH. Overall, 8 businesses in the district met the criteria for automatic VAT refund.
These enterprises comply with the requirements stipulated in Article 200 of the Tax Code of Ukraine. Namely, no tax debt, no bankruptcy proceedings in the courts, the average wage in the enterprise is two and a half times more than the legally stipulated minimum level, more than 20 employees, and the enterprise must be located at the place of registration.
Automatic VAT refund system is a positive development allowing the Ministry of revenues and duties to make on-line prompt refund to conscientious payers and encourages businesses in socially responsible behavior that lets you get economic benefit without undue difficulty.
Procedure for automatic VAT refund and criteria for selection of companies eligible are governed by Article 200 of the Tax Code of Ukraine.
