Fiscal service restructures Ukrnafta's debts for five months at 36% per annum

14:30, 18.08.2015 1 min read

The State Fiscal Service of Ukraine has restructured the debts of public joint-stock company Ukrnafta for five months at 36% per annum, the press service of the service has reported.

"Under Article 100 of the Tax Code of Ukraine and decree No. 574 of October 10, 2013 it was decided to restructure the debt of Ukrnafta for five months at 36% per annum, which equals to UAH 1.793 billion," the report said.

The fiscal service said that after signing the debt restructuring agreement Ukrnafta last week sent a first payment of UAH 200 million to the fiscal service.

"For the period of debt restructuring Ukrnafta's assets [worth the sum of the debt] are used as tax collateral. If the debt is not paid on time, the State Fiscal Service has the right to sell this collateral," the report said.