Due to fraudulent VAT refund scheme, the budget of the country lost a quarter of its amount

23 April 2014 10:48  1566964 067796
Due to fraudulent VAT refund scheme, the budget of the country lost a quarter of its amount

In 2013, a quarter of the budget of Ukraine was stolen through fraudulent schemes of value added tax refund.

This was stated by the head of the tax service Igor Bilous - the "Kyivpost" wrote.

He said that his mission was to bring capital from the shadow market of Ukraine, where approximately 40-60% of GDP remain hidden.

"Last year, a quarter of the national budget was stolen through fraudulent schemes of value added tax refund," - he said, commenting the work of his predecessor, Oleksandr Klimenko.

He also said that today there are many money laundering schemes that were established by the previous government.

"We find all the "tax pits" easily, because we have all the information," - he added.

According to him, all the major state-owned companies, including the "Naftogaz of Ukraine", used these "pits" for tax evasion.

Source - Ekonomichna Pravda

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