UTAO: increase in tax revenue through March was “very expressive” – ​​TVI24

Tax revenue “evolved unfavorably” by March and, if adjusted for refunds of indirect taxes, recorded an annual increase “less than impressive”, according to the Technical Unit of Budget Support (UTAO).

In the synthesis of budget execution of the first quarter, the Lusa agency has had access to UTAO back to warn that the growth of net tax revenue (considering reimbursements of indirect taxes) increased 4.8% to March, yoy, but that “in gross terms, the evolution was different, verifying some significant annual increase.”

“Indirect tax refunds checked until March 2015 were lower than in the same period by about EUR 319 million, including the VAT level [tax Value Added], implying an increase in tax revenue in net terms much higher than in gross terms, “write the independent experts who support the parliament.

UTAO explains the reduction of about 25% of refunds on VAT thirst with the entry into force of new requirements for granting VAT refunds, “including going to depend on the electronic communication of all invoices issued during the repayment period or in previous periods and the absence of differences between reported values ​​and the declared values ​​of paid and tax deductible. ”

The technicians consider that “overcome difficulties” registered at the level of verification issued and communicated invoices, it is assumed “that VAT refunds could accelerate in the coming months, approaching the values ​​recorded in previous years.”

The Business Journal wrote on Tuesday that VAT refunds (value added tax) are being automatically suspended if it is detect discrepancies between the information received in the system e-invoice and the relative applications for reimbursement and that, in these cases, companies are not reimbursed, even if the responsibility for non-communication is not his, but from suppliers.

Finance Ministry source told Lusa that the electronic communication of invoices for the system e-invoice “is mandatory for all companies since 2013″ and is necessary for ” guarantee the right of each individual taxpayer to deduct the IRS in relation to the respective collection expenses “and to” secure the payment due from VAT and IRC by companies. “

The same source recalled that in January, the control of the obligation to issue invoices and communication and control of obligations measures were adopted for VAT and that “not only the risk matrix to be used by tax authorities to confirm the validity of claims for refunds VAT has changed significantly, as they came to be because of suspension of repayments. ”

This means that, according to the trust, what drives this suspension of VAT refunds is “the existence of differences between the values ​​of reported invoices and the declared values ​​of paid and tax deductible for each company.”