THE STATE HAS REFUNDED VAT TO THE AMOUNT OF BGN 504.5 MILLION IN AUGUST
10.09.2013
The state has refunded VAT to the amount of BGN 504.5 million in August 2013 and 8,024 companies have received the tax due, the information from the National Revenue Agency shows. For 7,530 companies or 94% of their total number the sum refunded is up to BGN 100,000.
In order to enhance the efficiency of the VAT refund process, from the beginning of July 2013 the Ministry of Finance has taken urgent measures to introduce strict VAT refund accounting. They include strict adherence to the statutory deadlines for VAT refunds and also introduction of a principle of VAT refunds by priority rating of the VAT returns for refunding. The Ministry of Finance has also undertaken analysis of the structure of the non-refunded VAT and the reasons for its non-refund, as well as release of monthly information about the VAT refunded in the relevant month.
|
Range of the VAT refunded |
No of companies |
Amount of VAT refunded |
|
||||
|
|
(No) |
(BGN) |
|
||||
|
Over BGN 15 million |
2 |
121 883 491,52 |
|
||||
|
BGN 10-15 million |
1 |
10 183 229,11 |
|
||||
|
BGN 5-10 million |
12 |
86 061 377,77 |
|
||||
|
BGN 1-5 million |
42 |
89 130 207,74 |
|
||||
|
BGN 500-1,000 thousand |
50 |
36 135 693,66 |
|
||||
|
BGN 250-500 thousand |
126 |
43 463 896,27 |
|
||||
|
BGN 100-250 thousand |
261 |
41 262 659,78 |
|
||||
|
BGN 1,000-100 thousand |
5 156 |
75 468 719,14 |
7 530 |
|
|||
|
BGN 500-1,000 |
835 |
607 050,30 |
|
||||
|
BGN 1-500 |
1 539 |
350 630,53 |
|
||||
|
Total |
8 024 |
504 546 955,82 |
|
|
|||
|
94% |
of the companies are with refunded VAT below BGN 100 thousand. |