LAW OF UKRAINE

of January 17, 1997 No. 6/97-BP

About provision of privileges on taxation for products value added (works, services) made under the contract No. 1346/38

Article 1. Exempt from taxation on value added turnovers from sales of goods (works, services), including imported which are used for production under the contract N1346/38, and also turnovers from realization of the end products sold to the supplier for accomplishment of this contract.

Article 2. The list of the companies which are taking part in production (works, services) under the contract N1346/38, the nomenclature and amounts of goods to which operation of article 1 of this Law extends affirm the Cabinet of Ministers of Ukraine.

Article 3. Tax amounts on value added, paid by the companies which list is determined according to article 2 of this Law, to suppliers for the provided services, the performed works, and also the acquired material resources acquired and the fixed business assets and the registered intangible assets put into operation, are subject to compensation from the budget or are enlisted in the account of the subsequent payments.

In case of failure to provide participants of foreign economic activity of target delivery of the product quantity provided in the contract the value added tax is paid by such companies in accordance with general practice.

Taxpayers on value added in case of sales of products (works, services), the stipulated in Article 1 this Law, in settlement and shipment documents it is specified "On account of contract performance of N1346/38.

Article 4. The procedure of control of application of the specified privileges is established by the Cabinet of Ministers of Ukraine.

Article 5. This Law becomes effective from the date of its acceptance.

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