02424cas a2200349 a 4500 AALejournalIMF021746 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513577043 2522-7912 BD-DhAAL BD-DhAAL Pessoa, Mario. How to Manage Value-Added Tax Refunds / Mario Pessoa, Andrew Okello, Artur Swistak, Muyangwa Muyangwa. Washington, D.C. : International Monetary Fund, 2021. 1 online resource (26 pages) IMF How To Notes <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Mode of access: Internet Management Framework imf Refunds imf Taxation, Subsidies, and Revenue imf Value-Added Tax imf Vat imf Australia imf Muyangwa, Muyangwa. Okello, Andrew. Swistak, Artur. IMF How To Notes; How-To Note ; No 2021/004 Full text available on IMF http://elibrary.imf.org/view/journals/061/2021/004/061.2021.issue-004-en.xml IMF e-Library