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Nation    

Government to try to use T-bills to pay off VAT indebtedness
Journal Staff Report

KIEV, July 24 – The Cabinet of Ministers will be able to use treasury bills to restructure budget accounts payable accrued as of January 1, 2013 and to execute the debt on value added tax refunding if taxpayers select this means of refunding.

President Viktor Yanukovych signed on Wednesday a relevant law, which was passed by Parliament on July 4.

According to the document, the sum of the debt will be divided into five equal parts and executed with the help of T-bills that will mature in one, two, three, four and five years. The possibility of paying liabilities to the national budget using T-bills is also foreseen, although no earlier than the term of their maturity.




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