Verkhovna Rada Adopts First Reading Of Draft Law On Establishment Of State Road Fund

News 10 October 2016, 10:06

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75% of revenues from certain taxes will be paid into the special road fund in 2017.

The Ukraine's parliament adopted the first reading of a draft law on establishment of the State Road Fund of Ukraine on Thursday, 6 October.

The draft law No. 4014a was approved by 344 286.

According to the draft law, 75% of revenues from certain taxes (excise duty) will be paid into the special road fund in 2017, 75% in 2018, and 100% in 2019.

As reported, the parliament tried but failed to adopt a decision on establishment of the State Road Fund in February 2016. It returned to this issue unsuccessfully in March.

Money accumulated in the State Road Fund will be spent directly on repair of roads.

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