January 28 2004, 14:25 APK-Inform

Export VAT refund will be continued until the issue is completely finalised

Ukraine's Cabinet of Ministers has imposed a moratorium on the article of the 2004 State Budget, regarding cancellation of VAT reimbursements at exports. The moratorium will be in effect until the issue is ultimately solved, a top official from State Tax Administration (GNAU) has informed.

The official said GNAU was currently preparing elucidations in support of this document, which will be directed to all the organisations concerned.

Thus, he said, during the effect of the moratorium, the export VAT refund system would remain in the shape, as it existed in 2003.

The absence of certainty in the export VAT refund issue at the end of the past year had become one of the causes of traders' passivity in conclusion of new purchase contracts for Ukrainian agricultural commodities, destined for exports.