Head of the State Fiscal Service of Ukraine Roman Nasirov has said that VAT bonds could be used to cover the debt to refund value added tax (VAT) formed as of early 2015, he said at a meeting at the Finance Ministry on Monday.

"It's important for me that no priorities were given in VAT refunding, so that we do not discriminate anyone. We must refund enough limit to everyone during one month. We're going not to the partial settling of the problem. I think that in September, after the adoption of the draft law, we would have the complete solution, especially if we are able to cover the debt formed as of early 2015 using some financial tools," he said.

He said that agreement of the International Monetary Fund (IMF) is to be received to issue VAT-bonds.

Nasirov also said that the cabinet has submitted a draft law on the increase of the limit of funds foreseen for VAT refunding to exporters in 2015 to the parliament.

"Now the Ukrainian budget has figure of UAH 58 billion. We proposed an additional UAH 12 billion. We’ve taken a liability to collect more VAT to have a chance to refund more," he said, adding that he hopes that lawmakers would support the draft law in September.

As reported, referring to assessments of the State Fiscal Service, the state debt on VAT refunding exceeded UAH 12 billion as of late May 2015.