VAT REFUNDED IN NOVEMBER AND DECEMBER 2013 AMOUNTS TO BGN 1.055 BLN
14.01.2014
The state refunded almost BGN 1.055 billion of VAT to the bsuinesses in the last two months of 2013. This becomes evident from the information provided by the National Revenue Agency. 6,918 companies received a VAT of BGN 542 million in December 2013. This amount is by BGN 300 million more compared to the VAT refunded in December 2012 which amounted to BGN 239 million. The total VAT due to companies, excluding the amounts subject to on-going audits, was refunded at the end of last year. That is how for the first time in recent years the state has refunded all the VAT due to companies and will commence this year with VAT payments resulting from ordinary economic activity and not with the settlement of deferred liabilities that take liability off businesses.
In November 2013 7,176 companies received a VAT of BGN 512.9 million, with 6,692 companies, or 93% of the companies, receiving amounts of up to BGN 100 thousand. This is the trend for December 2013 where 6,456 companies, or 93% of their total number, received VAT of up to BGN 100 thousand.
The VAT refunded in the last quarter of 2013 exceeds BGN 1.587 billion, while the number of companies whose VAT subject to refund varied between BGN 1 and 100 thousand (an average 93% of their total number) was greatest in October, November and December.
At the beginning of July 2013 the Ministry of Finance took urgent measures to enhance the effectiveness of the VAT refund process. They included strict adherence to the statutory deadlines for VAT refunds and introduction of a principle of VAT refunds by priority rating of the VAT returns for refunding. The Ministry of Finance also started making an analysis of the structure of the non-refunded VAT and the reasons for its non-refund and releasing monthly information about the VAT refunded in the relevant month.
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 1,000-100 thousand | 4 926 | 69 907 985,51 | 7 167 | |
| vBGN 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 with refunded VAT below BGN 100 thousand |
Allocation of the VAT refunded by range
in the period 01- 30.11.2013 (without setting-off)
| Range of the VAT refunded | No of companies | Amount of VAT refunded | ||
| (No) | (BGN) | |||
| Over BGN 15 million | 2 | 120 245 647,20 | ||
| BGN 10-15 million | 2 | 23 045 676,55 | ||
| BGN 5-10 million | 11 | 78 854 587,44 | ||
| BGN 1-5 million | 52 | 104 924 590,67 | ||
| BGN 500-1,000 thousand | 52 | 38 629 018,69 | ||
| BGN 250-500 thousand | 110 | 38 427 987,36 | ||
| BGN 100-250 thousand | 255 | 39 990 911,41 | ||
| BGN 1,000-100 thousand | 4 608 | 67 939 992,10 | 6 692 | |
| BGN 500-1,000 | 749 | 550 651,15 | ||
| BGN 1-500 | 1 335 | 295 394,94 | ||
| Общо | 7 176 | 512 904 457,51 | 7 176 | |
| 93% | of the companies with refunded VAT below BGN 100 thousand |
Allocation of the VAT refunded by range
in the period 01- 31.12.2013 г. (without setting-off)
| Диапазон на възстановения ДДС |
Брой фирми |
Размер на възстановения ДДС |
||
| (брой) | (лева) | |||
| Over BGN 15 million | 5 | 192 284 131,43 | ||
| 1BGN 10-15 million | 1 | 10 363 598,65 | ||
| BGN 5-10 million | 5 | 33 983 353,35 | ||
| BGN 1-5 million | 51 | 119 084 334,25 | ||
| BGN 500-1,000 thousand | 62 | 44 156 947,16 | ||
| BGN 250-500 thousand | 103 | 35 673 770,80 | ||
| BGN 100-250 thousand | 235 | 36 989 850,45 | ||
| BGN 1,000-100 thousand | 4 643 | 68 550 535,32 | 6 456 | |
| BGN 500-1,000 | 638 | 467 955,21 | ||
| BGN 1-500 | 1 175 | 268 362,04 | ||
| Total | 6 918 | 541 822 838,66 | 6 918 | |
| 93% | of the companies with refunded VAT below BGN 100 thousand |