News 2 - The Committee on Taxation and Customs Policy recommends that the Parliament rejects the Bill on Amendments to the Law of Ukraine "On Value Added Tax" (re Taxation of Services concerning Oil and Natural Gas Transit) - Verkhovna Rada of Ukraine

The Committee on Taxation and Customs Policy recommends that the Parliament rejects the Bill on Amendments to the Law of Ukraine "On Value Added Tax" (re Taxation of Services concerning Oil and Natural Gas Transit)

Published on 02 April 2008, at 12:06

The Bill (Reg. No. 2051) establishes a zero rate of value added tax imposed on operations related to oil and natural gas transit performed through the territory of Ukraine, and on relevant transit-related services.

By estimation of the Ministry of Finance of Ukraine, in case a zero rate of VAT is imposed, negative profit of budget on VAT will total 732 billion Hryvnias per year.

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