OREANDA-NEWS. June 17, 2011. By the end of 2011, Ukraine will reach nearly one hundred percent automatic refunding of value added tax, President Viktor Yanukovych said at a Ukrainian-Slovak business forum in Bratislava.

 "I am convinced that we will reach 95% this year. Only 5% of taxpayers requiring further verification will remain," Viktor Yakunovych said.

 The President stressed that today VAT is refunded automatically now to 70% of enterprises. "The amount of refunds increases month after month. We had started with 300 million and reached 1 billion 200 million hryvnias in 4 months," he said.