Trans-Baikal enterprise recovers over 13.5 billion rubles in Value Added Tax (VAT) returns
VAT Refunds in Zabaykalsky Krai Exceed 13.5 Billion Rubles
In a significant development, the Federal Tax Service (FTS) of Russia has announced that VAT refunds in the region of Zabaykalsky Krai have surpassed 13.5 billion rubles for the first half of 2025. The refunds were made under the simplified VAT refund procedure, which is managed by the FTS of Russia.
This simplified VAT refund procedure applies to both organizations and individual entrepreneurs who pay VAT in the region. The electronic application for VAT refunds can be submitted along with the tax return. Notably, applications in paper form are considered invalid.
The requirements for electronic applications are set out in Order No. ЕД-7-15/217@ of the FTS of Russia dated March 20, 2024. The total amount of VAT to be refunded must not exceed the amount of all taxes and insurance premiums paid in the previous year.
The simplified VAT refund procedure in Zabaykalsky Krai allows for VAT refunds without a bank guarantee or surety. This streamlined process has been extended to the 2025 tax periods. As of April 1, 2024, applications for the simplified VAT refund procedure can only be submitted electronically.
Organizations and individual entrepreneurs in Zabaykalsky Krai submitted 57 declarations for VAT refunds under this procedure. The VAT refunds were processed by the regional FTS of Russia and were made to regional taxpayers.
For detailed, up-to-date, and region-specific VAT refund rules for 2025 in Zabaykalsky Krai, it is recommended to consult the official website of the Russian Federal Tax Service (Федеральная налоговая служба) or contact a local tax advisor.
The VAT refunds in Zabaykalsky Krai were reported on the website of the regional FTS of Russia press service. Companies undergoing reorganization, liquidation, or bankruptcy are not eligible for the simplified VAT refund procedure.
This development underscores the importance of the simplified VAT refund procedure in supporting businesses in Zabaykalsky Krai and boosting the regional economy.
- The significant VAT refunds in Zabaykalsky Krai, exceeding 13.5 billion rubles, have positively impacted various industries and businesses within the region.
- The simplified VAT refund procedure, managed by the FTS of Russia, has been instrumental in enhancing finance for businesses in Zabaykalsky Krai, contributing to the growth of the region's economy.
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