VAT refund, 130 million euros returned to businesses - 7 months/ 43 million euros were refunded in June alone
Nearly 130 million euros have been returned to businesses in the country in 7 months, in the form of paid VAT, 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 comparing it to January-July 2024, reimbursements have decreased by 17 million euros.
Meanwhile, the time taken to complete this process is gradually being reduced, with 80% of requests being 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 and physically).
VAT refunds are made within 60 days from the date of submission of the request through the Treasury system. The request for refund is subject to the normal refund procedure, subject to risk analysis. Subjects considered to be at zero risk are automatically refunded within 30 days from the date of submission of the request. In case of non-reimbursement of the approved amount, the taxable person has the right not to pay 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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