30.04.2014

The VAT refunded to businesses in March 2014 is almost BGN 448 million, the sum being comparable with the received by the companies BGN 464 million in March 2013. This is evident from the information of the National Revenue Agency. In March this year 8,650 companies have received the tax due, 8,202 companies,or 95% of them, have received sums under VAT to the amount of below BGN 100,000.

For the first quarter of 2014 the VAT refunded (without setting-off) amounts to BGN 1,487 million. For tax and social security contributions liabilities BGN 41 million have been set-off and for the first quarter of 2014 the State has effectively refunded VAT to the amount of BGN 1,446 million, which is by BGN 61 million more that the tax refunded for the same period of 2013.

This is a continuation of the practice established since 1 July 2013 the refunding of the tax to be done under strict rules consistent with normal economic logic by priority rating of the VAT returns for refunding. The observance of the 30-day period for VAT refund is monitored on a monthly basis so as no interest for delay to be paid from the budget.

 Allocation of the VAT refunded by range in the period 01- 31.03.2014 (without setting-off)