The Verkhovna Rada of Ukraine adopted as a basis the draft law “On amendments to the Tax Code of Ukraine” (re refining the procedure concerning finance bills)

Information Department of the Verkhovna Rada of Ukraine Secretariat
14 May 2013, 18:01

 The bill (Reg. No. 2847) suggests “impose time limits on the existing VAT budget reimbursement mechanism using treasury finance bills, as well as ban use of treasury finance bills during automatic budget reimbursement”.  

In view of this, it is stipulated exclude permanent provision regarding the abovementioned budget reimbursement (amendments to article 200 of the Tax Code) and introduce temporary (until January 1, 2014) analogous provision (supplements to subsection 10 “Other Transitional Provisions” of section XX of the Tax Code), under which VAT budget reimbursement shall be carried out by issuing finance treasury bills until January 1, 2014.