Analysts of the Economic Security Bureau of Ukraine forewarned the illegal reimbursement of UAH 66.5 million in value added tax (VAT).

ESBU employees identified several companies in Kirovograd and Kharkiv regions, whose officials submitted applications for illegal VAT refunds.

 The criminal scheme of VAT formation consisted of the following. Companies sold goods for cash and did not reflect such transactions in tax and financial statements. This made it possible to artificially create the presence of product residues in warehouses. Company officials entered false information into official documents and submitted applications to the State Tax Service (STS)) for the return of UAH 66.5 million in budget compensation.

In order to prevent the fact of illegal VAT refunds, ESBU analysts, in accordance with their competences, sent letters to the STS with recommendations to conduct unscheduled inspections of the activities of the mentioned companies and the reliability of the calculation of the budget VAT refund amounts.

Thus, the illegal reimbursement of 66.5 million VAT is prejudiced. The funds remained in the budget.

Employees of the Economic Security Bureau of Ukraine constantly analyze the financial and economic operations of business entities, the volumes of imported goods and the legality of declaring the budget VAT refund.

We will remind, recently detectives of the Territorial Administration of the Economic Security Bureau of Ukraine in the Odesa region seized the property of the director of the enterprise worth UAH 8 million for tax evasion.