LAWMAKERS PROPOSE RETURNING VAT REFUNDING FOR EXPORTS OF RAPESEEDS, SOYBEANS » Ukraine open for business

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LAWMAKERS PROPOSE RETURNING VAT REFUNDING FOR EXPORTS OF RAPESEEDS, SOYBEANS

4 Jan , 2018  

A group of lawmakers has proposed to annul the requirement foreseeing temporarily suspension of VAT refunds for exports of rapeseeds and soybeans.
Bill No. 7403-2 amending the Tax Code of Ukraine regarding some issues of VAT taxation for oilseeds exports was registered in the Verkhovna Rada on December 29, 2017.
The authors of the bill are 27 lawmakers. They believe that return of VAT refunds for exports of rapeseeds and soybeans would allow avoiding the loss of farmers who plant these oilseeds and would not allow violation of international commitments of Ukraine to the World Trade Organization (WTO) and the Deep and Comprehensive Free Trade Agreement (DCFTA) with the European Union (EU).
As reported, the temporary limitation for refunding VAT for exports of soybeans will be in effect from September 1, 2018 until December 31, 2021 and rapeseeds from January 1, 2020 until December 31, 2021.