According to the Minister of Finance Ivane Machavariani, up to one billion GEL will be returned to the taxpayers by the end of the year with the automatic VAT refund program.
The Minister of Finance considered automatic VAT refund program after the government session and said that the launch of the program was very good message for everyone.
"We called the program semi-automatic until now. As you know, the excess VAT was accumulated in the payer's account and the money was returned with one click of the button. However, we decided to automatically return any taxpayer who has excess VAT to the account without any confirmation. Recently, the databases have been corrected, a risk analysis program has been developed, according to which VAT is really refundable and we try to avoid the risk of fraudulent schemes, "- said Vano Machavariani.
According to him, the state returned 614 million GEL in 2019. As of today, 811 million is returned to the business and the figure will rise to one billion GEL by the end of the year.
