KIEV, Oct. 28 – Members of Parliament have proposed the reduction of value-added tax (VAT) from 20% to 15% and the introduction of the automatic tax refund for all amounts confirmed by the electronic VAT administration system.

The provision is contained in the draft tax reform registered in the parliament by 114 deputies on October 26.

The bill provides for the abolition of restrictions on automatic VAT refunds, the introduction of public registration of applications for budgetary compensation, and the disclosure of information about the status of VAT refunds for certain taxpayers and the amount of VAT refunds they claimed. The MPs also proposed the introduction of compulsory VAT refunds according to the order of any given application.