The business returned excess VAT of GEL 1.8 billion in 9M2024, - according to the Ministry of Finance of Georgia.
As for the share of VAT that remained in the budget, the Treasury of the Ministry of Finance will announce their volume on October 20. In the eight months of 2024, the amount mobilized in the form of VAT in the state budget amounted to GEL 4.89 billion, which was 91% of the 9-month plan.
According to the Revenue Service, 2.33 billion GEL was returned to the business in the form of excess VAT in 2023, in 2022 it was 2.26 billion GEL, and in 2021 it was 1.93 billion GEL. According to the Ministry, last year the excess VAT was returned to 48,500 enterprises.
The overpaid amount derived by VAT declaring might be automatically refunded to the taxpayer since November 17, 2020.
