OREANDA-NEWS. On November 12, 2008 at its sitting the Cabinet of Ministers has included changes to the law of Ukraine “On value added tax” under which it introduces a zero rate VAT for international motor carriers. Minister of Transport and Communications Yosyp Vinsky imparted at the briefing.

According to him, the Government has approved such a decision following the world practice and securing competitive environment for Ukrainian entrepreneurs. “In the face of financial crisis it is an absolutely correct step – we ought to give an opportunity for those working in active international business to operate in equal conditions with their competitors,” the Minister stressed.

At the same time Yosyp Vinsky added that the mentioned Govt’s decision would also positively influence economic state of enterprises dealing with international conveyance.

Moreover, Minister of Transport and Communications informed about providing UkrZaliznytsya with credit to the tune of around UAH 1.5 bn by the European Bank of Reconstruction and Development and European Investment Bank, the first tranche being expected after the New Year. According to him, “this loan will be directed exceptionally to material improvement of UkrZaliznytsya – waggonage, electric locomotives, diesel locomotives and railway equipment”.