Agricultural producers of Ukraine will get compensation
President of Ukraine Viktor Yanukovych signed the law № 4268-VI «On Amendments to the Tax Code of Ukraine to support agricultural producers».
The law contains provisions on the return to the former mechanism of compensation, which operated until December 31, 2010.
Law set a positive difference between the amount of tax liabilities of the reporting (tax) period and the amount of tax credit for the reporting (tax) period specified in the VAT tax declaration with the supply of goods, to pay into a special fund of the state budget of Ukraine and to a special account opened in the State Treasury as follows: in 2012 — to a special fund of the state budget of Ukraine — in the amount of 30% and a special account — the amount of 70%; in 2013 — to a special fund of the state budget — amounting to 40% and a special account — to 60%; in 2014 — to a special fund of the state budget — amounting to 50%, and a special account — 50%.