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Government to use borrowing to clear accounts payable and VAT debt
Journal Staff Report

KIEV, July 4 – The Cabinet of Ministers will be able to use treasury bills (T-bills) in established volumes to restructure the budget accounts payable accrued as of January 1, 2013 and to execute the debt on value added tax refunding if taxpayers select this way of refunding.

The law was supported by 246 lawmakers on July 4.

The T-bills' term of circulation is up to five years and the yield on them is 5% per annum.

After a claim of the opposition, the law was put up for voting again and it was supported by 244 lawmakers.




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