The Verkhovna Rada adopted the Law “On amendments to the Budget Code of Ukraine (re increasing financial independence of the Autonomous Republic of Crimea and Sevastopol city)”

Information Department
15 April 2014, 17:25

The law determines peculiarities of interrelations between the state budget and budget of the Autonomous Republic of Crimea and budget of Sevastopol city. It is particularly stipulated to:

transfer all revenues that are being paid (transferred) on the territory of the Autonomous Republic of Crimea and Sevastopol city to budget of the Autonomous Republic of Crimea;

grant the right to determine expenditures and crediting of budget of the Autonomous Republic of Crimea and Sevastopol city within the limits of revenues without using adjustment mechanism;

regulate inter-budgetary relations between local budgets of the Autonomous Republic of Crimea in the order established by the Council of Ministers of the Autonomous Republic of Crimea.

Budget of Sevastopol city is included to the list of local budgets of the Autonomous Republic of Crimea.

The respective bill was registered under No. 4591.