Preventing Illegal VAT Refunds: BEB Recommendations for State Budget Losses in Q1 2024

• BEB prevented illegal VAT refund in the amount of 575 million UAH in the first quarter
• BEB analysts sent 210 recommendations to state authorities and managers of state funds in the first quarter of 2024
• BEB analysts identified a company that applied for a VAT refund of over 200 million UAH
• The company exports agricultural products to various countries
• BEB experts analyzed the company’s activities in February 2024 and identified risky financial and economic operations
• BEB analysts sent a recommendation letter to the State Tax Service regarding violations of tax legislation in budget refunds
• The company submitted a revised calculation, reducing the VAT refund amount by 16.2 million UAH
• Overall, BEB analysts sent 210 recommendations in the first quarter of 2024 to prevent budget losses, including illegal VAT refunds totaling 575 million UAH

Source: news.dtkt.ua

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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