Procedure for Refunding Excess Funds Credited to Electronic VAT Account in Ukraine

• Funds from the electronic VAT administration account are transferred to the state budget for tax obligations and to the taxpayer’s bank account upon request.
• The transfer to the taxpayer’s account is possible if there is no excess of tax amount in invoices over declared tax obligations.
• The mechanism for settlements with the budget using electronic accounts is defined by the VAT electronic administration procedure.
• If the electronic account balance exceeds the amount to be transferred to the budget, the taxpayer can request a transfer to their bank account.
• The tax amount is reduced by the amount to be transferred to the budget for tax debt repayment.
• The transfer is possible if it does not result in a negative tax amount.
• The tax authority sends a register to the Treasury for the transfer process.

Source: od.tax.gov.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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