Ukraine to suspend VAT rebate
The First Vice Premier, Minister of Finance of Ukraine, Nikolay Azarov rose a question of suspension of VAT rebate from the budget. According to the Ministry of Economy data, in the first half of 2006 approximately UHA 7 billion (approx. $1.4 billion) from budgetary funds was paid out as VAT rebate. Just to compare, in the first half of 2005, only UAH 4.9 billion (approx. $979 million) was paid as VAT rebate.