20 December 2016
Local budgets will receive a portion of subsoil use royalties beginning in 2018
On 20 December 2016, the Ukrainian Parliament approved a new law providing that local budgets will receive a portion of revenues from subsoil use royalties. Currently, 100 percent of such revenues go directly to the state budget. However, under the new law, the state budget will receive only 95 percent of the revenues. The remaining 5 percent will be distributed…
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