Draft Law of Ukraine

"On Amendment of Some Laws of Ukraine (Respectively Supply of Combustive-Lubricating Materials to Agricultural Producers)"

This draft proposes to exempt heavy oils (diesel oil under the codes 2710 00 610, 2710 00 650, 2710 00 690 of the Harmonized Commodity Description and Coding System) from import duty, value added tax and excise duty during its importation in the customs territory of Ukraine. The Laws of Ukraine “On Temporary Procedure for Taxation of Operations in Production and Sale of Crude Oil and Some Combustive-Lubricating Materials”, “On Excise and Import Duty Rates for Some Goods (Products)” shall be amended to reach this goal.

Besides, this draft law envisages amendment of the Law of Ukraine “On Value Added Tax”. The core point of such amendments is to use “cash method” for calculation of value added tax.