VAT bond applications total UAH 17.7 bln
30 June 2010
The State Tax Administration announced yesterday it received applications for VAT bonds amounting to UAH 17.7 bln (USD 2.2 bln) by the deadline on June 25 out of UAH 19.5 bln of the overall VAT reimbursement debt. VAT bonds will be issued with 5.5% coupon, paid s.a. and sinkability provision with 10% of principal repaid every half year. The bonds are to be issued in July 2010. The 2010 state budget provides for the reimbursement of VAT debts as of May 1, 2010 via the issuance of VAT bonds.
