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Sberbank launched a VAT refund service for exporting enterprises - EastRussia | Far East

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Sberbank launched a VAT refund service for exporting enterprises

Sberbank launched a VAT refund service for exporting enterprises
Photo: pixabay.com

PJSC "Sberbank" together with the Federal Tax Service launched an electronic VAT refund service for exporting enterprises. As Vice-President of the Bank Andrey Sharov told a press conference in Vladivostok, according to the classical scheme, tax refund takes up to three months, and Sberbank customers can return it in just seven days.

“The first recipient was a client of the Far Eastern Sberbank. VAT return is a global practice, and Russian enterprises that have to compete in foreign markets, this money, which will quickly return to circulation, will help remove the barrier to market entry, ”said Andrei Sharov.

Far Eastern enterprises are actively involved in other programs offered by Sberbank. Thus, in the first half of 2019 of the year, small and medium-sized businesses in the DFO concluded a loan agreement with Sberbank 162 totaling three billion rubles under the “Available Credit for SMEs” loan program.

In general, the portfolio of loans of small and medium-sized businesses in Sberbank reached 1 trillion 365 billion rubles, for the year it grew by 5,4% per year. According to Andrei Sharov, this suggests that the business seeks to grow. At the same time, if you look at the dynamics of growth in the portfolio of the Far East, it is higher than the national average by about 2,5 times.