companies and markets

Nibulon ready to accept T-bonds as VAT refund

08.07.2010 | kyivweekly.com.ua

Nibulon, one of Ukraine´s largest agricultural enterprises says it is ready to accept government domestic loan bonds as value-added tax refund. Mykola Kruhlov, head of the Mykolaiv oblast tax administration told a joint press conference with of Nibulons director general Oleksiy Vadaturskyi. The former government left huge VAT refund arrears. We are forced to settle this problem. The only way to redeem the debts is the issue of government domestic loan bonds. The bonds are popular and trusted. Banks, both foreign and domestic, willingly accept the bonds as a pledge, said Kruhlov. The state´s debt on VAT refund to Nibulon has hit UAH 1 bn.

The Finance Ministry is expected to issue VAT bonds totaling up to UAH 20 bn. Nibulon is a major producer and exporter of agricultural products, and also a stevedoring company. It currently cultivates 70,000 hectares of farmland.

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