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DECISION OF THE SUPREME EURASIAN ECONOMIC COUNCIL

of October 1, 2019 No. 21

About approval of the Procedure for debt repayment of state members of the Eurasian Economic Union on payment of contributions to the budget of the Eurasian Economic Union

According to Item 30 of the Regulations on the budget of the Eurasian Economic Union approved by the Decision of the Supreme Eurasian economic council of October 10, 2014 No. 78, the Supreme Eurasian economic council solved:

Approve the enclosed Procedure for debt repayment of state members of the Eurasian Economic Union on payment of contributions to the budget of the Eurasian Economic Union.

Members of the Supreme Eurasian economic council:

From the Republic of Kazakhstan

From the Republic of Armenia

From the Kyrgyz Republic

From the Republic of Belarus

From the Russian Federation

Approved by the Decision of the Supreme Eurasian economic council of October 1, 2019, No. 21

Procedure for debt repayment of state members of the Eurasian Economic Union on payment of contributions to the budget of the Eurasian Economic Union

I. General provisions

1. This Procedure determines the mechanism of debt repayment of state members of the Eurasian Economic Union (further respectively - state members, the Union) by payment of the contributions to the budget of the Union, use and the cash accounting which arrived on account of repayment of such debt.

2. For the purposes of this Procedure concepts which mean the following are used:

"state debtor" - state member for which the debt is registered;

"debt" - the money which is not listed by state member as of January 1 of the current financial year on the budget account of the Union on account of payment of the contribution approved as a part of the budget of the Union in reporting financial year;

"authorized bodies" - executive bodies of state members to which functions on forming and execution of budgets of state members are assigned.

II. Reconciliation of outstanding amounts

3. The Eurasian economic commission (further - the Commission) for confirmation of actual receipt of contributions and outstanding amounts for accounting financial year sends to the governments of the states debtors no later than January 20 of the current financial year 2 copies of the settlement reconciliation statement signed and certified by seal of the Commission.

4. The government of the state debtor in 3 weeks time from the date of receipt of the settlement reconciliation statement provides carrying out by authorized body reconciliation of the amounts of actually listed contributions and debt, assurances of 2 copies of the settlement reconciliation statement by signing and putting down of seal, and also in the absence of discrepancies with channelized the Commission of 1 copy of the settlement reconciliation statement back in the Commission.

5. In the presence of disagreements on the amount of actual receipts of contributions and debt the state debtor and the Commission eliminate them by negotiations no later than 1 month from the date of receipt by the government of the state debtor of the settlement reconciliation statement. After the specified term in case of availability of disagreements the question of their settlement is submitted for consideration of Council of the Commission.

III. Debt repayment

6. The debt is subject to obligatory repayment by money transfer in currency of the Russian Federation (in Russian rubles) or in freely convertible currency (in US dollars) on the budget account of the Union in the current financial year.

7. The state debtor can start debt repayment before receipt of the settlement reconciliation statement by the government of the state debtor. Debt repayment can be performed as one-timely in full, and parts.

8. After complete repayment of debt by the state debtor the Commission sends the adequate notice to the government of the state debtor.

Delay of its repayment can be granted to the state debtor which debt was formed owing to emergence of force majeure circumstances according to the decision of the Supreme Eurasian economic council.

IV. Use of the money which arrived on account of debt repayment

9. The money which arrived on account of debt repayment goes (if necessary) for repayment of the accounts payable of bodies of the Union for obligations to personnel, suppliers of goods, contractors and services formed in case of budget implementation of the Union in reporting financial year according to data of budget reports of bodies of the Union for accounting financial year.

10. The money which arrived on account of debt repayment till March 1 of the current financial year except for of the money specified in Item 9 of this Procedure based on the decision of the Supreme Eurasian economic council is subject to offsetting on account of payment of contributions of state members to the budget of the Union in proportion to the amounts of their contributions approved in the budget of the Union in reporting financial year.

11. The money which arrived on account of debt repayment on March 1 of the current financial year and later except for of the money specified in Item 9 of this Procedure based on the decision of the Supreme Eurasian economic council is subject to offsetting on account of payment of contributions of the state members to the budget of the Union which executed till March 1 of the current financial year in full obligations on payment of contributions in reporting financial year, in proportion to amounts of the transfers which are actually made by them in reporting financial year.

V. Accounting and reporting

12. The cash accounting, arrived on account of debt repayment, is performed on the budget account of the Union. Transactions with the specified means are reflected in budget accounting and the reporting of the administrator of the budget of the Union according to the Regulations on the budget of the Eurasian Economic Union approved by the Decision of the Supreme Eurasian economic council of October 10, 2014 No. 78.

13. The chairman of Board of the Commission quarterly informs the governments of state members on completeness of transfer of contributions and the course of repayment by the states debtors of the available debt.

 

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