LT2019506A - A method for vat refund and the system thereof - Google Patents

Abstract

The described method of VAT refund and the system implementing this method allow easy and quick administration of VAT refund. VAT refund implementation system comprise the following components: the central control unit, the data submission unit, the tax administration unit and the crediting unit. The data submission unit provides data on VAT refund to the central control unit. The central control unit verifies the data, records it into the database and document management systems and forwards it to the tax administration institutions. The tax administration institutions refund the client-paid VAT to the partner. In the case of a simple refund, the partner refunds the client-paid VAT to the client, after deduction of the commission. In the case of a quick refund, the crediting institution takes part in the method, which grants the credit to the VAT refunding partner, the partner pays the granted money to the client, and when the tax administration institutions refund the VAT, the partner refunds the credit to the crediting institution. Many of the processes described in the method are done automatically and are saved, so they can be viewed at any time later.