Changes have been made to the Regulation on the procedure for returning to the taxpayer's bank account the excess amount on the value added tax resulting from application of the zero rate, Norma reports. 

It should be recalled that from April 1, 2019, the amounts of VAT generated as a result of applying the zero rate are returned to the taxpayer in an expedited manner within 7 working days from the day of the submission of required documents in full. Information that is available to the tax authorities, including the reconciliation statement and VAT calculations, are no longer required.

In connection with this, the refund mechanism has also been introduced changes:

First, the taxpayer now applies directly to the State Tax Committee (previously - to the territorial tax authorities). In addition, it is now possible to send an appeal in electronic form through personal account. The interaction between the STC and the Treasury of the Ministry of Finance also allows for electronic format.

Second, only the information on the sale of goods and the receipt of currency is attached to the application without fail. And only in some cases, additional documents will be required in 1 copy. 

Third, calculation of the excess amount on the VAT, which is subject to return to the taxpayer's bank account, is presented, respectively, including the STC, but in 1 copy, and not 3, as before.