A VAT refund is the refund process from the budget that occurs if the amount of VAT deductions based on the results of a tax period is greater than the sum of the tax estimated to payment in the budget. When taxpayers are faced with this procedure, it may cause difficulties which are problematic without legal advice, representation and support.
A tax audit is conducted for a tax refund, so companies should verify in advance the correctness of all documents.
A tax audit is held to:
- to double-check the documentation;
- to control the conformity of Declaration data and indicators of tax accounting;
- to ensure the sustainability of reduced rates, tax deductions and the correct calculation of taxes.
Even the smallest inaccuracy can be a reason for refusal in VAT compensation. Special attention should be paid to the agreements with counterparties and primary documents, correctness of their compilation allows you to claim a refund from the budget. Appeal to a specialized company will help you to prepare for a tax audit before its implementation.
Many organizations are afraid to deal with VAT refunds.
Highly qualified specialists from UCMS Group have extensive experience working with major companies on VAT refunds.
We will examine primary documents to identify errors and omissions. Our experts will challenge the acts of the tax service and will represent the company’s interests in court, if necessary.