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Home / Bioethanol / News Ukraine: Cabinet Adopts Procedure For Issue, Circulation And Payment Of Bills For Bioethanol Procurement To Produce BiofuelCabinet Adopts Procedure For Issue, Circulation And Payment Of Bills For Bioethanol Procurement To Produce Biofuel "To endorse the procedure for issue, circulation and payment of bills (tax receipts) avalized by banks and given to take bioethanol from an excise warehouse for further biofuel production," the resolution declares. Bill drawers are entities entitled to use bioethanol for biofuel production. Bill holders are state tax authorities for the locality a bill drawer is registered. A biofuel producer writes out a tax receipt for the amount of excise duty. In view of the established procedure, a bill drawer shall give a bill holder a tax bill produced in the bank form. The amount of excise duty is calculated for the volume of received bioethanol based on the rate determined as difference between a full excise duty rate for ethyl spirit and a zero rate for one liter of 100-percent spirit. A tax bill is issued for at least 90 calendar days after being avalized by a bank. A tax bill is made in two copies: one is filled in a bank form and another in a xerocopy of the tax receipt form. The first copy is given to a bill holder, and the second one registered by a bill holder is given to a bill drawer to report to tax authorities on bioethanol procurement. It is prohibited to use a tax receipt which is non-avalized by a bank. To pay a tax receipt a bill drawer shall present a bill holder with evidence concerning target use of bioethanol in biofuel production. Commitments on tax bill payment shall not be conceded to a third party regardless of their ties with a bill drawer. A tax receipt is not subject to an interest rate or other commissions the existing law envisages for other types of bills of exchange. As Ukrainian News reported, government resolution No. 829 of July 29, 2009 authorized the Ministry of Fuel and Energy to license biofuel and biogas production.
Date: 20.03.2010 Leave your comment
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