The Law is elaborated to reduce the deficit of the budget on the execution of the requirement of the Memorandum on Economic and Finance policy between the Government of Ukraine and International Monetary Fund taking into the consideration the fact in the result of the execution of the state budget for the first half year of the current year the state expenses should be reduced into UAH 14,4 billion
The document in particular envisages the reduction of VAT income in UAH 10 billion, in particular VAT form he goods imported to Ukraine UAH 5,7 billion. Moreover, reduce all the income of special fund, that is, VAT in UAH 0,45 billion and income tax in UAH 0,45 billion, income from the privatization of the state property in UAH 3,65 billion (for 5 months income comprise only UAH 177 million, or 1,8% o annual sum).
Moreover, it is planned to reduce the expenses of the state budget in comparison with the adopted on 27 April 2010 State Budget of Ukraine on UAH 18,35 billion.
A relevant bill is registered under Reg. No6673.