KIEV, July 20 – The Ukrainian Federation of Employers has asked the Ukrainian president and premier to take urgent measures to improve the situation with VAT reimbursement.

"Starting from May 2010, the debt for VAT reimbursements has grown by UAH 2.4 billion every month on average. If the situation does not improve, the government could face an additional UAH 16 billion in debts," reads a press release of the federation issued on Monday.

The federation also asked the country's leadership to set clear terms for VAT bond issues, provide for the acceptance of VAT declarations; amend the national budget, increasing the total sum for reimbursement and resume the circulation of tax bills of exchange for the customs clearance of equipment, materials and raw materials.