FEATURES OF LEGAL REGULATION AND ACCOUNTING AND ANALYTICAL MECHANISM OF VALUE ADDED TAX REFUND
Journal Title: Держава та регіони. Серія: Економіка та підприємництво - Year 2018, Vol 6, Issue 105
Abstract
The compensation reduction methods from the state budget are shown and the ways of reformation are offered. The analysis of compensation dynamics of VAT is conducted; the recommendations for businessmen and legal entities to fill the obligatory payment tax return of payer are given in this article. A detailed analysis of VAT refunds from January to August 2018 was conducted. Consider its results. As of 01.01.18, the balance of VAT reimbursement amounts to 12 172.2 million UAH. In total, the compensation was paid for the 8 months spent, amounting to 382 365.1 million UAH. The share of monthly payments reaches the following indicators: January – 19.66%, February – 3.14%, March – 6.16%, April – 8.8%, May – 11.4%, June – 14.33%, July – 16.85%, August – 19.66%, respectively. The share of payments was the lowest in February. As can be seen from the above data, the VAT refund from the State Budget was paid only on 1/3 of the claimed amount of compensation at the beginning of the current budget period. And this means that, in fact, the development of small and medium-sized businesses does not take place sufficiently since it does not have the appropriate compensation for the spent resources. This, in our opinion, is a negative phenomenon for the state’s economy. The presence of significant shortcomings in the reimbursement of value-added tax requires the implementation of measures to stabilize the situation. To do this, you need to: improve the legislative framework, in particular, to eliminate conflicting provisions of VAT legislation. In our opinion, in order to improve the procedure for reimbursement of value-added tax, it is necessary: 1) to introduce a system of automatic refund of VAT to avoid subjective decisions of employees of the controlling bodies; 2) in order to avoid corruption risks, to provide for a clear normative definition of the grounds for the tax authorities to carry out unscheduled on-site verification of the payer to determine the reliability of the budget reimbursement charge; 3) impossibility of registration of fictitious enterprises; 4) to introduce a general electronic register of tax invoices, which will allow detecting fictitious enterprises; 5) to introduce special control of newly created enterprises in the initial period (up to one year) of their activities, in particular, monthly submission of tax returns, the use of financial guarantees and individual tax audits.
Authors and Affiliations
A. -M. V. Afonina, N. V. Bortnik
Keywords
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