OREANDA-NEWS. September 06, 2010. The Government in the draft Tax Code has provided the introduction of the State liability for late VAT refund. Prime Minister Mykola Azarov said this today during a press conference on "Tax Code - for the welfare of citizens and innovative economic development".

Mykola Azarov reminded that in 1998-99 operated the norm, when for a late VAT refund the State should pay fines. "We resume this norm. That means the State will never use the money of the taxpayer in the form of unrecovered VAT", said the Prime Minister and added that work in this direction should be based on mutual support.

However, Minister of Finance of Ukraine Fedir Yaroshenko has noted that the payment of fines for delays in VAT reimbursement by the State will total 120% of the discount rate set by the NBU.