Refunds of value added tax (VAT) in the first half of 2017 will amount to about Hr 57.9 billion, which is 60.4%, or Hr 28.1 billion, up on the first half of 2016.
This forecast was given by Director of the Ukrainian State Fiscal Service’s corporate taxation department Olena Antipova.
VAT refunds in January-May amounted to Hr 47.9 billion with VAT reimbursement applications placed for Hr 48.1 billion, she said at a press conference in Kyiv on Thursday. VAT refunds paid in April-May alone totaled Hr 21 billion with applications for Hr 19.8 billion.
Some 97% of the reimbursement in April-May was handled within 30 days due to the launch of the electronic tax register on April 1, 2017, she said.
