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Automatically translated version. May contain inaccuracies compared to the original.
🤝I promised to look into what’s happening with businesses not getting their VAT refunds.
So here’s my report:
VAT has already been “unfrozen.” But 11,361 billion UAH businesses still haven’t received
🏦The Ministry of Finance reports that as of 30 October there are no agreed VAT refund amounts whose payment was suspended due to insufficient funds in the single treasury account.
This is generally true. But with a caveat.
The amounts whose delays were previously mentioned by Finance Minister Serhiy Marchenko have already been paid. In total, during October businesses were refunded 25,6 billion UAH in VAT.
📑At the same time, as of 1 November 11,361 billion UAH of agreed but still unpaid VAT remained. Payment orders for these funds were being processed by the Treasury.
Do these 11,361 billion UAH indicate a lack of money? Rather no. This is ordinary “carryover” VAT. For the State Tax Service the amounts are already considered processed, and the actual transfer of funds to businesses moves to the next month.
🗓️On the plus side: as of 1 October 19,139 billion UAH remained unpaid. Over the month that amount decreased by 7,778 billion UAH, or by almost 41%.
🤷♂️So, the old problem of frozen refunds has indeed been resolved. But by the start of November businesses were still awaiting another 11 billion UAH.
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