Fastest VAT refunds last 8 days

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Fastest VAT refunds last 8 days
Fastest VAT refunds last 8 days

Africa-Press – Angola. The chairman of the Board of Directors of the tax authority, José Leiria, assured this Tuesday that the fastest deferred refunds last 08 days, but work is being done to automate their processing.

José Leiria responded in the National Assembly to the “complaints” made by some businessmen to the deputies of the 5th Commission for Economics and Finance, according to which there is a delay in the refund of VAT, which has had a negative impact on the treasury of companies.

The person in charge admitted the registration of some delays, but that many of them are linked to the revision of data submitted by some entrepreneurs.

In general, the VAT refund time, made through the presentation of invoices, lasts between four to three months, a period that is intended to be reduced to one month, according to the request made, Monday, to the deputies by the businessmen .

“The maximum period we had so far was four months for us to pronounce ourselves. Many times the pronouncements go towards joining elements and reviewing the data”, defended, José Leiria, stressing that the fastest refunds are made in 08 days.

Looking at other geographical areas, at the level of the SADC Region, he said that work is already being done to automate the VAT refund project.

For example, according to data, in September 2022, AGT reimbursed 27 requests worth 3.5 billion Kwanzas, but another 32 were granted and 40 suspended, for non-compliance with the requirements. in the law and reporting obligations, respectively.

In the same period, AGT registered 35 new requests for reimbursement in the amount of 9.7 billion kwanzas. Also in the month of October, 50.1 billion kwanzas were collected in terms of VAT.

In his speech, the PCA of AGT also clarified that VAT only taxes the final consumer, noting that the production chain does not suffer the contributory burden of this tax, that is, the entrepreneur pays and recovers.

“When the VAT that the entrepreneur pays is higher than what he receives, the entrepreneur goes to the Fiscal Office and asks for his money back”, he clarified.

The 5th Commission on Economy and Finance of the National Assembly met yesterday with members of ministerial departments.

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