"Regions" offer to introduce a penalty for the debts to the state

The Verkhovna Rada of Ukraine registered a draft law on the procedure for repayment of overdue debts of economic entities to the state for loans borrowed by the state or under government guarantees. Bill № 8070 from 03.02.2011 referred to the appropriate committee deputies from PR Valery Konovalyuk. The bill is intended to normalize relations, the outstanding debt of economic entities to the state for loans borrowed by the state or under government guarantees, thereby simplifying the procedure for the return of funds to the State budget from the debtors. The bill establishes the procedure for repayment of arrears to the state for loans borrowed by the state or under government guarantees, the terms of restructuring overdue debts, and especially to restore the solvency of debtors and bankruptcy proceedings in respect of claims for repayment of arrears. In particular, the defined entity exercising control over the repayment of arrears. Establishes the procedure for identifying and agreeing on the amount of arrears and the order of registration submission to its collection. Implemented "fiscal Zastava to be applied to businesses similar to the tax lien. Determined by the repayment of outstanding amounts of arrears, and also features production by the bankruptcy. Also, the draft proposes that if the debtor has not repaid the agreed amount of arrears, the latter penalty is charged at the rate of 120 percent annual interest rate of the National Bank of Ukraine.