It has been exactly three months from the date of entry into force (1 May) the new, significantly elevated, excise taxes on tobacco products. in a case had been operating data (as of 30 July), the State Tax Administration (STAU) the amount of excise tax from the sale of tobacco products for the May-July 2009. plan failed Three months Tabachnyk the General Fund budget in the form of excise duty of over 2 bln. communicate to STAU. For comparison, in May-July 2008 on tax collected for 163% less than the excise tax from the sale of tobacco products - 761 million UAH. Recall March 31, the Verkhovna Rada adopted in the general law on rates of excise duty on tobacco products (relative to the exceptional income in the state budget), significantly increasing the excise tax for Tabachnikov. As a result, the minimum tax liability most tradable commodity - cigarette filter - was increased from 47 to 100 UAH. at 1 thousand cigarettes or 1.06 grn. on the stack. Increasing rates of excise duty on tobacco, the authors estimated the relevant law, to further bring the budget in the year 3.7 billion UAH. The initiators of the law predicted that in 2009-m revenue from tobacco excise tax to the budget amount to 10.6 bln. expected that of these 9.1 billion UAH. available in the budget for the period from 1 April until the end of the year. Given that increasing the excise tax was a month later than expected to the authors of law, it is possible to cut down the plan up to 8 bln. If on the basis of this figure and assume that the payment of excise duty to the implementation of tobacco in the budget will be relatively evenly, it can be said that while the plan to excise not be executed. example, in May-July, completed 25% of the plan for May-December instead of the program 36%. The plan really is not fulfilled, - confirms the director of the Union of wholesalers and manufacturers of alcohol and tobacco (Sovata) Vladimir Demchak. - We have warned the Ministry of Finance, which by a plan (to 10.6 billion UAH) is impossible.
National Bank of Ukraine (NBU) may extend for up to seven years, refinancing, issued by the bank Nadra, Kiev, Finance and Credit, Ukrprombank, Rodovid Bank, Ukrgasbank (all - Kiev) and IMEXBANK (Odessa) . relevant decree number 438 dated 28 July, the board adopted the NBU. Decree number 438 provides for an extension for up to seven years of the term of the contract of loan refinancing to banks for which the National Bank of Ukraine introduced the Ministry of Finance proposal for the participation of States in their market capitalization - the letter reads NBU sent in the seven banks on Friday. According to him, under the treaties of refinancing will be paid interest at the rate of the NBU discount rate plus 0.5 percentage points. How to make changes in contracts for loans and refinancing of mortgage contracts (mortgages), which will include an additional agreements, an additional mortgage, and if necessary replace the more liquid bond and the other will be raised further, - stated in letter. According to data released Internet edition Ukrainian Truth at the end of June, the volume of the National Bank refinancing bank Nadra was 7.1 billion UAH, Kiev - UAH 1.01 billion, Finance and Credit - 2, 64 billion UAH stabilization and refinance 2.44 billion UAH - short-term, Ukrprombank - to UAH 0.54 billion and 0.86 billion UAH, Rodovid Bank - UAH 2.12 billion and 1 billion grn, Ukrgasbank - UAH 1.23 billion and 2.61 billion and IMEXBANK UAH - UAH 0.6 billion and 0.5 billion UAH.
At the end of the day RTS index gained 1.61%, the index of the MICEX - 0.65%. The most liquid stocks closed down differently. So VTB shares (9.79%), NLMK (4.03%), CMI (3.61%) showed advanced market dynamics, while prefy Rostelecom (-2.99%), paper NOVATEK (-2.01%) and FSK (-1.74%) ottorgovalis quite unconvincing. fluctuations of quotations of securities remaining on the average did not exceed 1-2%. In the next trading day, we do not expect to see market access from the corridor 960-1080 points on the MICEX index, the most likely scenario, the consolidation of the market in the region of 1000 points. In our view, in spite of that August for the Russian site has never been a month of growth, the coming months may well be the exception, as investors continue to seek confirmation of the restoration of the world economy and yet, judging by the quotes, do not lose hope to find them. According to our estimates, the only factor that could provoke a rally to update the local maxima at the Russian sites - could be a withdrawal of quotations of oil above the range of $ 73.00 -73.50 per barrel, which, in our opinion, very likely. Increased volatility in the last time at the Russian sites and in the commodity markets, indirectly, may indicate that the investors at the moment are at a crossroads, which implies the possibility of significant movements in the presence of the corresponding news background. Authorize and appreciate the story;; Your grade will be the first! Analyst Ratings