OREANDA-NEWS. June 07, 2010. President of Ukraine Viktor Yanukovych convinced that the issue of timely VAT refunds will be successfully resolved, he said at his today’s press conference dedicated to 100 days of his presidency.

"We will be gradually increasing VAT refunds as revenues of state budget grow. And we will certainly approach timely payment of VAT", said Viktor Yanukovych.

Of course, President Yanukovych said, the problem of VAT refunds remains very difficult. The arrears in the tax refunds is now about 25 billion UAH, at least a quarter of which is so-called "empty" VAT, which has not yet been refunded.

"Only when we conduct investigation and see this VAT is real, the money will be refunded. This is the money of the Ukrainian people, of all the taxpayers," said Viktor Yanukovych.

Undoubtedly, he stressed, companies that were examined and found bona fide taxpayers, over time will be refunded VAT timely.