FUNCTIONS OF RECEIVING BUDGET VAT REFUNDS

 The issue of monetary obligations to the tax authorities is always acute. However, the issue of budget reimbursement of value added tax is more relevant among businesses. This is due to the fact that in the second question, the money is received, not paid by the legal entity.

  Budget reimbursement is possible, in accordance with paragraph 200.4 of the Tax Code of Ukraine, provided:

• Presence of a negative value (excess tax credit);
• The recipient of the goods paid this amount of VAT;
• The amount to be reimbursed does not exceed the registration limit;
• No tax debt.

 In this case, not receiving the already paid goods does not affect the right to budget reimbursement.

 In order to exercise this right you need:

• Fill in the tax return;
• Indicate the amount of compensation in Annex d3;
• Make a statement of compensation in the form of Annex d3;
• Submit the above documents to the supervisory authority.

 The information is then added to the existing Register, which automates the reimbursement process by creating a transparent queue of businesses.

 This is followed by the most unpleasant stage for the business - in-house inspection. But you can't do without it, so you will have to bring the reporting in line and in good condition. Such inspection shall be carried out within thirty days. The positive aspect is that this is not an on-site inspection. In our case, the inspector checks the correctness of the indicators of the declaration, without leaving his office. However, if the loan is formed before 2015 or the inspector found inaccurate information, which is not further documented, then another inspection is carried out within 60 days - documentary.

 It is also worth noting that the practice shows the appointment of unscheduled inspections in the case of filing an application for a budget VAT refund of more than one hundred thousand hryvnias.

 Based on the results of the inspection, the relevant information is entered into the register, and therefore from this stage the amount of the obligation is considered agreed. The law sets a deadline of five operating days for the payment of funds from the date of their approval. However. The practice makes its own adjustments and shows that the state does not comply with these instructions.

It is worth noting that the deadline of 1095 days for budget reimbursement does not apply, and therefore funds can be obtained without a statute of limitations for any period!

 The main thing is to follow the procedure. At the same time, the right to budget reimbursement is preserved if the business entity has ceased to be a VAT payer, but has an unused tax credit.

 Care should be taken with budget reimbursement, as intentional overstatement of reimbursement amounts is punishable by a fine of 25% of such overstatement.

 Your business can get quality tax support from lawyers and tax consultants of the law firm "Prikhodko and Partners". Contact us, we will easily solve your problems and help you avoid unnecessary risks.