SES Presidents sign agreement on VAT
From: RFE/RL NEWSLINE Vol. 8, No. 177, Part I, 16 September 2004
SINGLE ECONOMIC SPACE PRESIDENTS INK TAX AGREEMENT... The presidents of the Single Economic Space (SES) member states (Belarus, Kazakhstan, Russia, and Ukraine) met in Astana on 15 September,
agencies reported. Belarusian President Alyaksandr Lukashenka, Kazakh President Nursultan Nazarbaev, Russian President Vladimir Putin, and Ukrainian President Leonid Kuchma signed an agreement to levy the value-added tax (VAT) on a destination-country principle starting on 1 January 2005, Kazinform reported. The presidents also charged the SES High-Level Group with developing documents by the end of 2004 to ease border-crossings for citizens of member states, ITAR-TASS reported. They affirmed a list of 29 basic documents for the SES legal structure to be readied for signing by 1 July 2005. President Putin said that the VAT agreement was a difficult decision, as it will cost the Russian budget $800 million, RBC reported. But he said that it will increase trade volume and benefit all four countries. DK
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It's part of the crisis we are going through.
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