The law on extension of privileges on the VAT for agricultural enterprises is passed

In a note it is reported about extension of VR of Ukraine of period of validity of separate points of the Law on the VAT till January 1, 2008

The LAW ON EXTENSION of PRIVILEGES ON the VAT FOR AGRICULTURAL ENTERPRISES is PASSED

We hurry to please you, dear readers, speyotsialny modes of payment of the VAT with the selskokhozyayyostvenny enterprises, established:

• subitem 6.2.6 of the Law on the VAT (a zero rate of the VAT by supply of milk and meat in live weight on the pererabayotyvayushchy enterprises);

• item 11.21 of the Law on the VAT (release of selkhozpredyopriyatiya from VAT payment in the budget at realization of production of animal husbandry and products of its pererayobotka);

• item 11.29 of the Law on the VAT (release of selkhozpredyopriyatiya from VAT payment in the budget by delivery to­varov / services of own production), are prolonged for one year – till January 1, 2008.

Besides, the special mode of taxation of the VAT in agricultural industry, forestry and fish breeding which is provided by Art. 81 of the Law on the VAT, is delayed for one year – till January 1, 2008.

The relevant Law was adopted by deputies Veryokhovna Rady on October 19 current goda*.

Take into consideration: at the moment of signing of danyony number in the press the Law on extension of privileges on the VAT isn’t signed yet by the President of Ukraine.

However as for the called Law progolosova­lo (420 of 436 priyosutstvuyushchy), it is possible to assume the majority of People’s Deputies that even if the Law will be not not signed by the President of Ukraine, deputies can overcome the veto of the President and the Law vstu­pit in force.

So, most likely, next year you bu­dete to pay the VAT as well as in the current: three declarations on the VAT, use of the sums of the VAT from speyotsialny accounts on a designated purpose etc.

We will report about Law signing by the President doyopolnitelno.

* In this regard specifications in the bill on the State budget for 2007, concerning Art. 81 of the Law on the VAT, most likely, will be excluded (see "Balans-Agro", 2006, No. 20, page 15).

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