June, record in VAT refunds for businesses/ 6-month period, enterprises receive 111 million euros back
In the first half of the year, businesses have received back around 111 million euros of VAT paid, through the refund procedure.
Divided by month, a progressive increase in refunds made by the General Directorate of Taxes is observed and the highest figure is in June with approximately 43 million euros, a figure several times higher than other months of the year, where an average of 15-18 million euros were refunded.
While the time taken to complete this process is being reduced, approximately 80% of requests are approved without review.
VAT refunds for businesses throughout 2024, through the digital platform, were made within an average of 31 days, reducing waiting times and facilitating taxpayers. By 2027, the average refund deadline is planned to reach 25 days.
During the past year, reimbursements amounted to 223 million euros.
Taxable persons, registered for VAT, who result in a credit balance of over 400,000 thousand lekë, have the right to submit a request for VAT refund to the VAT Refund Directorate at the General Directorate of Taxes. This request is submitted according to the approved form “Request for VAT Refund” (online as well as officially at the VAT Refund Directorate at the General Directorate of Taxes).
VAT refunds are made within 60 days from the date of submission of the request through the Treasury system. The refund request is subject to the normal refund procedure, subject to a refund risk analysis. They are automatically refunded within 30 days from the date of submission of the VAT refund request, as zero-risk persons. In case of non-reimbursement of the amount approved for refund, the taxable person has the right to non-payment of other tax obligations in the amount of VAT claimed for refund.
If a refund, which should have been made by the tax administration, is not made within the legal deadlines, the tax administration pays late payment interest on the overpaid amount.
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