THE VAT REFUNDED IN SEPTEMBER AND OCTOBER AMOUNTED TO BGN 1.11 BILLION
20.11.2013
National Revenue Agency (NRA) data show that the VAT refunded to companies in September and October 2013 amounts to almost BGN 1.11 billion. In September 6,939 companies received VAT due to the amount of BGN 577.154 million, of which 6,466 companies or 94% have received sums below BGN 100,000. The VAT refunded in the third quarter of 2013 exceeds BGN 1.639 billion. In July, August and September this year the number of companies whose VAT to be refunded was between BGN 1 and 100,000 was the greatest (on the average 93% of the total number).
This ratio is preserved in October 2013, the VAT refunded being BGN 532.41 million, and again from the total number of companies - 7,617, 94% or 7,167 have received sums below BGN 100,000.
In order to enhance the efficiency of the VAT refund process, from the beginning of July 2013 the Ministry of Finance has taken urgent measures to introduce strict VAT refund accounting. They include strict adherence to the statutory deadlines for VAT refunds and also introduction of a principle of VAT refunds by priority rating of the VAT returns for refunding. The Ministry of Finance has also undertaken analysis of the structure of the non-refunded VAT and the reasons for its non-refund, as well as release of monthly information about the VAT refunded in the relevant month.
Allocation of the VAT refunded by range
in the period 01- 30.09.2013 (without setting-off)
|
Range of the VAT refunded |
No of companies |
Amount of VAT refunded |
||
| (No) | (BGN) | |||
| Over BGN 15 million | 6 | 229 785 966,38 | ||
| BGN 10-15 million | 2 | 23 178 974,62 | ||
| BGN 5-10 million | 6 | 40 177 888,56 | ||
| BGN 1-5 million | 52 | 112 094 366,59 | ||
| BGN 500-1,000 thousand | 48 | 32 392 977,73 | ||
| BGN 250-500 thousand | 95 | 32 925 924,51 | ||
| BGN 100-250 thousand | 264 | 40 540 486,03 | ||
| BGN 1-100 thousand | 4 496 | 65 275 690,78 | 6 466 | |
| BGN 500-1,000 | 695 | 505 104,81 | ||
| BGN 1-500 | 1 275 | 276 857,74 | ||
| Total | 6 939 | 577 154 237,75 | 6 939 | |
| 93% | of the companies are with refunded VAT below BGN 100 thousand |
Allocation of the VAT refunded by range
in the period 01- 31.10.2013 (without setting-off)
|
Range of the VAT refunded |
No of companies |
Amount of VAT refunded |
||
| (No) | (BGN) | |||
| Over BGN 15 million | 3 | 196 322 232,68 | ||
| BGN 10-15 million | 3 | 35 716 589,41 | ||
| BGN 5-10 million | 3 | 23 081 042,58 | ||
| BGN 1-5 million | 52 | 104 990 591,02 | ||
| BGN 500-1,000 thousand | 43 | 31 008 791,81 | ||
| BGN 250-500 thousand | 94 | 32 122 031,99 | ||
| BGN 100-250 thousand | 252 | 38 350 565,75 | ||
| BGN 1-100 thousand | 4 926 | 69 907 985,51 | 7 167 | |
| BGN 500-1,000 | 812 | 593 528,14 | ||
| BGN 1-500 | 1 429 | 314 616,38 | ||
| Total | 7 617 | 532 407 975,27 | 7 617 | |
| 94% | of the companies are with refunded VAT below BGN 100 thousand |