Draft Law of Ukraine

“On Amendment of the Law of Ukraine “On Value Added Tax”

The main idea of this draft is to allow enterprises with foreign investments, irrespectively of their form and time they were made, to issue promissory notes to customs authorities for the amount of tax liability when goods are imported into Ukraine. According to the proposed draft law, this right is to be guaranteed to the enterprises importing goods referred to in the commodity group 1-24 of the Harmonized System of Commodity Description and Coding. Therefore, the mentioned enterprises will have the right to enjoy VAT deferral.

Adoption of this draft law will allow to create more equal, non-discriminatory conditions for all business entities paying value added tax at importation of goods, including enterprises with foreign investments.