Sberbank: Compensation from the budget of the VAT and excises

Compensation from the budget of the VAT and excises – the service for corporate clients allowing to reduce tax refund time for business from 72 to 7 days without visit of tax authorities. The client pays only the commission for release of a guarantee, and formation and document transfer on compensation of the VAT and excises will be performed free of charge.

2020: Canceling of payment for service

On April 16, 2020 Sberbank reported that it made free "Compensation from the Budget of the VAT and Excises" service. The procedure of compensation happens completely in electronic form. This special set of services became possible thanks to development of digital services of Sberbank and FTS.

Sberbank issues the electronic bank guarantee and helps the client to create a document package in a personal account Sberbank Business Online for sending it in the tax inspection. The tax administration returns VAT amount within 7 days.

Sberbank reminded that it the first and still only bank in Russia representing to corporate clients a possibility of interaction with tax authorities concerning VAT refund through remote links of communication.

Days till April 30, 2020 are announced non-working in Russia, and we understand how it is important and during this period to clients to continue to make out return of the tax payments uninterruptedly. In a situation when offices of the Federal Tax Service physically do not work, we see big demand of our online service on return from the budget of the VAT and excises. And we made the decision till May 31, 2020 to give the chance to clients to use this service free of charge. Of course, it is only one of measures which were taken by Sberbank to support the corporate clients. But we hope that together we will help the Russian business to cope with the current situation, told Anatoly Popov, the vice chairman of the board of Sberbank