Alfa-bank simplified online issuance of bank guarantees for VAT refund
In January 2025, Alfa-bank issued 22% more VAT refund guarantees online compared to the same period last year. The number of clients using this service grew by 59%.
The new type of bank guarantees is issued in express mode, allowing businesses to receive refunds within 2 to 10 days after filing a tax declaration. This is 6–10 times faster than the standard timeline for a desk audit by tax authorities.
If an organization wishes to claim a VAT refund in an accelerated format before its documents undergo a full audit, it must provide a bank guarantee no later than 5 days after submitting the tax declaration.
Denis Osin, Director of Small and Microbusiness at Alfa-Bank, commented:
"We always strive to maximize efficiency for our clients. These guarantees allow businesses to receive VAT refunds upfront from the budget without waiting for the tax audit to conclude. The refunded amount can then be immediately reinvested into daily operations. VAT refunds with guarantees are fast, simple, and profitable for businesses."
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