The Business Received GEL 2.3 BLN AS VAT Return - Minister

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23.Mar .2023 17:00

The Business Received GEL 2.3 BLN AS VAT Return - Minister

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Author:Natia Taktakishvili

The business received GEL 2.3 billion as VAT return during 2022, - Minister of Finance Lasha Khutsishvili stated this while presenting a report in the "Minister's Hour" format at the plenary of the spring session of the Parliament.

"The process of automatically returning the value-added tax is going smoothly. Until the end of 2022, more than GEL 5 billion was returned to the business. Only in 2022, the total amount returned from the sub-account amounted to GEL 2.3 billion.

In 2022, the refinement of software modules, appropriate risk criteria and indicators related to the operation of the system of automatic refund of overpaid VAT continued," said the Minister of Finance.

According to the Revenue Service, in 2021, GEL 1,831,572,401 was automatically returned to the businesses in the form of excess VAT, while this amount was GEL 1 billion in 2020.

Minister of Finance Lasha Khutsishvili VAT refund