The international monetary Fund (IMF) is concerned about the parliamentary amendments in the VAT refund system. This is stated in the letter from the permanent representative of IMF in Ukraine Yosty of Longman the speaker of the Verkhovna Rada Andrew Parubiy and Prime Minister Vladimir Groisman, reports FinClub.
“We are concerned about bill No. 7115 under consideration in Parliament which, subject to its adoption, will replace the electronic check system right regional inspectorates of the SFS, at its discretion, decide to suspend or not tax bills,” reads the letter.
The IMF noted that the bill expands backwards the modernization of the administration system of VAT, it undermines the institutional integrity of GFS and is liable to restore the malignant practices of the debt on VAT refunds.
The explanatory Memorandum States that the purpose of the bill is to ensure the correction of deficiencies in the implementation of procedures for suspension of registration of tax invoices/adjustment calculation in the Unified register of tax invoices.