Deputy Minister of Finance Lasha Khutsishvili assesses introduction of automatic VAT refund
"Today we have an important innovation in tax administration! The work process has been completed and the project: “Automatic VAT refund” is fully launched from November 17. According to the project, overpaid amount derived by VAT declaring may be automatically refunded to the taxpayer.
Many efforts and resources have been spent on development and implementation of this project, for which the Revenue Service is especially grateful. Behind this simple procedure, there is a 2-year workload, which ensures safe and smooth operation of the VAT refund process.
The new project is the highest standard in the world for managing overpaid taxes, which is very important for our economy today.
The data for the first month are as follows: according to the VAT declarations submitted in November, more than 70 million GEL was returned to more than 9000 VAT payers and this is just the beginning, "Lasha Khutsishvili wrote on the social network.
