June 15 2004, 12:05 APK-Inform

President of Ukraine concerned with a tightening of VAT-accounts adopting

The President of Ukraine Leonid Kuchma is concerned with a tightening of VAT-accounts adopting by Verkhovna Rada. L. Kuchma declared it at the meeting devoted to VAT problems.

At the same time he admitted that VAT-accounts introduction is necessary for improvement of administration and tax collection. "I am convinced, that at present there is no other instrument ", - L. Kuchma said.

As it was reported before, the President of Ukraine has sharply criticised the government for absence of effective measures necessary for VAT problems decision.

Also it reported, that in April L. Kuchma has offered Verkhovna Rada to introduce special accounts for VAT payers (VAT-accounts). This system envisaged VAT collection to the state budget and tax turnover through VAT payers' special bank accounts. The Presidents' bill also envisaged stage-by-stage reduction of the VAT rate to 15%.

The President decided to cancel special accounts introduction decrees and to submit the bill of VAT-accounts introduction to Verkhovna Rada because the process of VAT-accounts introduction demands more complex preparation and the appropriate legislative support.