According to the data for 2024, GEL 2.5 billion was returned to the business in the form of excess VAT, - the Ministry of Finance reported.
In 2024, the volume of VAT refunds increased by 9%, or 215 million GEL.
Since 2020, a highly important wide-scale change was implemented regarding tax administration. Based on the declarations submitted for a particular month, the taxpayer receives an automatic refund of the existing VAT surplus to his bank account.
The system is fully automated, and the process is based on a modern risk assessment system based on updated software developed by the Revenue Service.
