Draft Law of Ukraine

"On Amendment of Some Legislative Acts of Ukraine Related to State Support of Automobile Industry"

The draft envisages exempting from payment of import duty until January 1, 2008, commodities that are imported to Ukraine’s customs territory by enterprises producing automobiles, buses and component parts thereto. According to the current legislation, such privileges have only enterprises producing automobiles with investment equivalent at least to USD 150 mln.

Apart from that, the draft envisages canceling privileges on payment of value added tax at zero rate with respect to transactions on sale of automobiles, buses and component parts thereto.