TIRANA, Sept 21 /ATA/ VAT refund for the period January-August 2021 is estimated at ALL 17.9 billion.
Referring to the statistics released by the Ministry of Finance and Economy on consolidated fiscal indicators, reimbursements for the 8-month period 2021 reached ALL 17.9 billion, ALL 7.7 billion or 75.9% more than the corresponding 8-month period of 2020 as well as ALL 5.6 billion or 45.2% more than the VAT refund plan for the 2-month period.
Value Added Tax (VAT) refund is one of those indicators for which over the last two years we have worked hard to improve the stock situation and accelerate the process of disbursing the refund.
Referring to the official data of the Tax Administration, the VAT refund stock of arrears at the end of June 2021 reached ALL 1.7 billion, from ALL 11.8 billion in the second quarter of 2020.
Meanwhile, revenues in VAT collections (gross) amounted to ALL 36.1 billion, 7.2 billion or 25% more than the 8-month 2020, as well as 1.9 billion or 5.6% more than the VAT collections plan for the 8-month period 2021.
According to the MoFE, the sectors with the largest contribution compared to the corresponding 8 months of 2020 are trade, construction and manufacturing sectors.
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