Automatic VAT refund
Chief Department of Ministry of income in Kyiv informs that starting from January 1, 2015 taxable refund of value added tax (VAT) for the taxpayers, which meet the criteria specified in section 200.19 of Article 200 of the Tax Code of Ukraine (updated version) will be executed automatically. Article 200.19 TCU determined that the right to receive automatic budget refunds have taxpayers that meet simultaneously the following criteria:
– Not in bankruptcy court proceedings under the Law of Ukraine “On Restoring Debtor’s Solvency or bankruptcy“;
– Legal entities and individuals-entrepreneurs included in the Unified State Register of legal entities and individuals-entrepreneurs and have no records in the Register on:
- a)lackof information confirmation;
- b)absenceat the location (place of residence);
- c)approvedsolutions on separation, termination of a legal entity, business activity of an individual-entrepreneur;
- d)therecognition of constituent documents or amendments to the constituent documents of a legal entity wholly or partially invalid;
- e)thetermination of state registration of a legal entity or business activity of the individual-entrepreneur and concerning these persons have no solution or information on which the termination of a legal entity or business activity of an individual-entrepreneur state registration was conducted;
– Have non-current assets residual book value on the reporting date that in tax accounting exceed twelve times the amount of tax declared for reimbursement:
- a)carryout transactions of VAT zero rate (the total amount of which in the previous twelve consecutive tax reporting periods (months) aggregate of not less than 40 percent of total deliveries (for taxpayers with quarterly reporting period – the past four consecutive periods)
and / or
- b)madeinvestments in non-current assets of not less than 3 million UAH in the last 12 calendar months;
– have no tax debt;
– big taxpayer didn’t declare negative value of VAT taxable object of the last reporting (tax) year“.
These changes provided by the Law of Ukraine of 31.07.2014 N 1621-VII “On Amendments to the Tax Code of Ukraine and other legislative acts of Ukraine“.