Cabinet sets new requirement to send 75% of profit of state companies to budget

10:59, 05.01.2016 1 min read

The Ukrainian government has set a new requirement to send 75% of profits of state unitary enterprises to the national budget, while earlier they sent 15-30% of their profits.

The decision is outlined in cabinet resolution No. 1156 of December 30, 2015 and the document will take effect synchronously with the law on amendments to the law on management of state-owned facilities passed on December 24, 2015.

As reported, in the document the Verkhovna Rada provided the government with the right to set the norm exceeding 30% for paying part of net profit to the budget by state enterprises.

Until now state unitary enterprises, which are the subjects of natural monopolies and those whose net profit exceeds UAH 50 million, paid 30% of net profit to the budget, all other state unitary enterprises pay 15%.