[PDF] How To Manage Value Added Tax Refunds eBook

Author : Mario Pessoa
Publisher : International Monetary Fund
Page : 29 pages
File Size : 16,74 MB
Release : 2021-05-10
Category : Business & Economics
ISBN : 1513577042

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The value-added tax (VAT) has the potential to generate significant government revenue. Despite its intrinsic self-enforcement capacity, many tax administrations find it challenging to refund excess input credits, which is critical to a well-functioning VAT system. Improperly functioning VAT refund practices can have profound implications for fiscal policy and management, including inaccurate deficit measurement, spending overruns, poor budget credibility, impaired treasury operations, and arrears accumulation.This note addresses the following issues: (1) What are VAT refunds and why should they be managed properly? (2) What practices should be put in place (in tax policy, tax administration, budget and treasury management, debt, and fiscal statistics) to help manage key aspects of VAT refunds? For a refund mechanism to be credible, the tax administration must ensure that it is equipped with the strategies, processes, and abilities needed to identify VAT refund fraud. It must also be prepared to act quickly to combat such fraud/schemes.

Author :
Publisher :
Page : 55 pages
File Size : 30,77 MB
Release : 1994
Category :
ISBN :

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This booklet covers the following topics with respect to obtaining a VAT refund: who can make a claim for a VAT refund, how are claims made, the monetary limits, the manner in which refunds are made and the appeals procedure which applies. It covers the 12 EC member countries, Austria, Sweden and Hungary.

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
Page : 13 pages
File Size : 28,21 MB
Release : 2024-08-23
Category :
ISBN :

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This report summarizes an expert visit on VAT refunds that provided Inland Revenue Department officials with examples of good international practice in VAT refund management and risk management.

Author : Mr.Santiago Acosta Ormaechea
Publisher : International Monetary Fund
Page : 38 pages
File Size : 30,97 MB
Release : 2019-05-07
Category : Business & Economics
ISBN : 149831418X

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Does the design of a tax matter for growth? Assembling a novel dataset for 30 OECD countries over the 1970-2016 period, this paper examines whether the value added tax (VAT) may have different effects on long-run growth depending on whether it is raised through the standard rate or through C-efficiency (a measure of the departure of the VAT from a perfectly enforced tax levied at a single rate on all consumption). Our key findings are twofold. First, for a given total tax revenue, a rise in the VAT, financed by a fall in income taxes, promotes growth only when the VAT is raised through C-efficiency. Second, for a given VAT revenue, a rise in Cefficiency, offset by a fall in the standard rate, also promotes growth. The implication is thus that in OECD countries broadening the VAT base through fewer reduced rates and exemptions is more conducive to higher long-run growth than a rise in the standard rate.

Author : Cedric Andrew
Publisher : International Monetary Fund
Page : 32 pages
File Size : 45,24 MB
Release : 2023-08-04
Category : Business & Economics
ISBN :

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A previous IMF Working Paper on value-added tax (VAT) refunds (WP/07/31, by Keen and Smith) describes the main forms of VAT noncompliance and concludes that VAT is susceptible to evasion and fraud like any other tax. This paper shows the insidious nature and extent of VAT refund fraud in selected EU countries and argues that this type of noncompliance requires tax administrations to adopt a coordinated strategy and deploy a range of countermeasures to combat this threat. Because such fraud is primarily a criminal legal issue, tackling it successfully will require cooperation, both internationally between VAT administrations and nationally between tax authorities and the judiciary. The paper’s focus is primarily on advanced economies in the context of the EU, but many of the recommendations are applicable to emerging market and developing countries. A separate IMF How to Note discusses managing VAT refunds in developing countries.

Author : OECD
Publisher : OECD Publishing
Page : 355 pages
File Size : 20,75 MB
Release : 2021-09-15
Category :
ISBN : 9264424083

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This report is the ninth edition of the OECD's Tax Administration Series. It provides internationally comparative data on aspects of tax systems and their administration in 59 advanced and emerging economies.