The Ministry of Finance of Russia has proposed to simplify and expedite the procedure for value added tax (VAT). This statement was made Deputy Minister of Finance Sergey Shatalov, Interfax reports.
According to Shatalov, the taxpayer, providing a bank guarantee, will be able to get the VAT prior to the examination of the documents filed with the tax authorities. If the inspection shows that the taxpayer was not entitled to full reimbursement of VAT, the amount will be paid through a bank guarantee.
Shatalov added that this mechanism is quite viable, and it can run fast enough. At the moment the decision on reimbursement or non-VAT tax is made after verification of the taxpayer desktop documents.
In late 2007 the head of the Federal Customs Service (FCS) Andrei Belyaninov called VAT the "most corrupt" tax. In particular, this is due to cumbersome procedure of VAT taxpayers. Last, in order to avoid this, try to evade payment of VAT with the help of companies odnodnevok.
In early April, the Federal Tax Service (NRF), Russia announced that in January and February of this year compared to the same period last year, revenue in the budget from VAT increased by 80 percent. The total volume of tax payments to the budget declined by 13.5 percent due to reduced income tax and tax on mineral extraction.
Monday, April 13, 2009
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