Introduction of modern civilized circulation of financial papers in Ukraine is rather timely, president of the Ukrainian Union of Industrialists and Entrepreneurs Anatoly Kinakh said during the Union board meeting, ForUm correspondent reports.

According to the economist, a financial bill as evidence of debt is a common practice of the civilized world, which can be effective in our country as well. "This issue is very important, since many domestic enterprises lack working capital, and expensive credit resources are not available to them," the expert said.
So he generally supports the proposals stipulated in the draft law on amendments to some legislative acts of Ukraine on improving procedures for financial bills. However, it is very important that the Parliament and the Cabinet take into account many principled details, the head of Union added.

He noticed that, together with the adoption of the relevant legislation, Cabinet should work on the order of the circulation of bills.

"It should be taken into account that if a taxpayer receives bill from the state, he should have the right to pay with it for current obligations to the budget, particularly in the payment of import and import value-added tax. This procedure should include control of discounting bills of exchange, their circulation in banks," the economist said.


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