Tax declarations for UAH 16.1 bln not accepted in seven months of automatic VAT refunds

Since the launch of the automatic VAT refunding system tax declarations or specified calculations for the amount of UAH 16.1 billion were not accepted with UAH 56.7 billion refunded, Ukraine's Finance Ministry has reported on its website.

The ministry said that as of November 2, 2017, the register received 24,590 applications for VAT refunds for UAH 88.1 billion, and applications for UAH 1.1 billion were not accepted or being challenged.

"In November, the register has received eight applications for UAH 1.8 million, the funds have not been yet repaid," the ministry said.

In September, UAH 10.5 billion was declared for refunding, including UAH 8.8 billion or 84% refunded as of November 2, 2017, while in September 2016, almost UAH 7.3 billion was declared with UAH 3 billion or 41% refunded.