UAC News

It takes political will to “automatize” the VAT refund. Also, it takes insignificant, but meaningful, changes in VAT administering which are to “strike the trump cards” from the hands of those who “dally” over refund referring to the interests of the state – deems Sergei Stoianov, Director General, Ukrainian Agrarian Confederation

This country has deviated too far away from the path of civilized countries. We already got used to various disgraceful practices surrounding our daily life. However notorious they might be, our “ways” and logics of our actions, our administering, our judicial proceedings, our daily life (read: “communal economy”) and many-many other aspects of our itsy-bitsy life are not understandable either to an ordinary foreigner, or to “weather-beaten” top-managers of transnational companies with their subsidiaries in many countries of the World.

The VAT-refunding issue has driven many up the wall in Ukraine. This concerns both a number of branches of the national economy and some business entities. What worries me is the agricultural sector. The very sector of Ukrainian economy that, for the past two years on the row, has been showing a positive trend in output growth, earning hard currencies for the coffers, as well as carrying half-Ukraine on its broad shoulders.

Ukraine’s grain export in January-June, the second half on the 2009-10 marketing year, is likely to total 6 million metric tons, the Ukraine Agrarian Confederation said Friday.

Louis Dreyfus Commodities Ukraine, a Ukrainian daughter company of one of the largest grain trading companies in the world - Louis Dreyfus Negoce S.A. (France) - has stopped purchasing grain at Ukrainian elevators.