The status of Ayurvedic medications from the point of legislation should be approved for their popularization in Ukraine, in particular, it should be determined if they are medicines, participants of a roundtable held at Interfax-Ukraine on Tuesday said. President of the Indian Pharmaceutical Manufacturers’ Association (IPMA) Dr. Ramanan Unni Parambath Menon said that at present, Indian Ministry of Yoga and Ayurveda (the Ministry of AYUSH) is attempting to make regulatory agencies of different countries to recognize Ayurvedic medications. “We want that Ayurvedic medications are registered as medications of alternative medicine. We are working on making Ukrainian regulatory agencies to recognize them,” he said.
In turn, President of Euro Lifecare Sanjeev Bhagat said that according to Ukrainian regulatory requirements, currently Ayurvedic medications could be registered only as nutritional supplements, which moderates trust of consumers.
“India has a separate pharmacopoeia for Ayurvedic medications. They are considered medicines, not nutritional supplements. However, Ukraine does not have alternative medicine and the country does not have special rules for these medications, and they are registered as nutritional supplements. This has a lot of drawbacks,” he said.
Bhagat said that when Ayurvedic medications are imported as nutritional supplements 20% VAT and 10% duty are imposed on them, while 7% VAT is imposed on medicines. “The price of the medications becomes higher, and it is not interesting for us to bring them,” he said.
Commercial Director of Organosyn Ltd. Svitlana Sichkar said that Ayurvedic medications are often registered in Ukraine as nutritional supplements. “The situation is somewhat double: on the one hand, registration is not required [for Ayuvedic drugs] and this saves time for the company. We can immediately represent the product in the market. At the same time, there is a certain distrust of nutritional supplements and there are restrictions on indications for their prescription. These drugs cannot be included in some mandatory medication protocols,” she said.
At the same time, Sichkar said that recently the trust of doctors in Ayurvedic drugs is growing: “Doctors are ready to prescribe these drugs if they see that the product is really effective.”
The grain terminal of Cargill and MV Cargo in Yuzhny port (Odesa region), whose capacity will total 5 million tonnes of grain per year, and the cost is estimated at $150 million, could by the end of 2018 transfer the first one million tonnes of grain, the co-owner and CEO of TIS Port, Andriy Stavnitser, has said. “We plan to launch the MV Cargo terminal in summer and I hope we will handle one million tonnes by the end of the year. I will be superstitious, I will not voice the date. But we are doing everything to launch it in summer. Whether it will be June or August I cannot say: construction in Ukrainian realities is a thing not always predictable,” he said in an interview with Interfax-Ukraine.
According to Stavnitser, from the point of view of construction itself, everything is proceeding well: the dredging has been completed, the filling of the pier with sand is being carried out, and then hydraulic engineering construction will begin.
As reported, Cargill (the United States), the Ukrainian Sea Ports Authority and MV Cargo LLC in August 2015 signed a tripartite memorandum of intent to implement an investment project in Yuzhny port. Its launch was scheduled for 2017.
TIS Port (a stevedoring company operating in Yuzhny port, Odesa region) intends to attract new container lines and services to cooperation. “We are developing the TIS container terminal very actively recently, and we expect to launch many new projects and attract partners this year. The main competitive advantage of our container terminal is railway projects. We are now sending block trains directly from TIS to Dnipro and Kyiv, plan to send them to new cities soon,” TIS Port co-owner and director general Andriy Stavnitser said in an interview with Interfax-Ukraine, commenting on cooperation with the largest operator Maersk.
Stavnitser noted that the TIS terminal has five cranes in one line, which directly influences the processing speed.
“There is no such equipment in any port. We have bought two of these cranes recently. We do not have any additional infrastructure fees, we quickly accept ships, there is a unique service for grain stuffing. The main thing is that we are working hard to develop container transshipment, and we are confident that new services and lines will come to us,” he concluded.
ATTRACTING, COMPANY TIS PORT, CONTAINER SERVICES, LINES, STEVEDORING
The European Bank for Reconstruction and Development (EBRD) plans to implement around 25-30 new financing projects in Ukraine, EBRD Director in Ukraine Sevki Acuner said at a press conference in Kyiv. The bank plans to step up its presence and it is always open for business, he said.
In turn, EBRD Director for Transport Sue Barrett said that three or four projects for EUR 100-200 million will be implemented in the transport and infrastructure spheres.
As reported, the EBRD in 2017 approved projects for EUR 800 million for Ukraine, which is 37% more than a year ago. In 2017, Ukraine became the third largest recipient of EBRD loans following Turkey, which received EUR 1.54 billion in loans, as well as Egypt with EUR 1.41 billion loans. To date, the bank has made a cumulative commitment of almost EUR 12.1 billion across some 400 projects since the start of its operations in the country in 1993.
The State Fiscal Service of Ukraine has imposed UAH 160.8 million of fine for over 600 facts of violation of declaration of transactions under control under transfer pricing by taxpayers, and 55% of the sum was paid to the national budget, the authority said on its website on Tuesday. “About 3,000 taxpayers report annually on the performance of controlled transactions, and 2,700 reports for 2016 for the amount of UAH 2.47 trillion were submitted,” the authority said.
According to its data, the main countries, with residents of which controlled transactions were held in 2013-2016, except for banking, were Cyprus (27%), Russia (18%), Switzerland (15%) and the United Arab Emirates (12%).
Most of the taxpayers who perform controlled transactions are registered in the Office of Large Taxpayers – 40%, while the amount of transactions performed by these companies is 92% of the total volume of transactions. Another 24% of taxpayers registered in Kyiv (the amount of transactions – 4%), and 4.6% of companies in Dnipropetrovsk region (the amount of transactions – 0.8%), according to the data of the fiscal service.
The largest subjects in terms of volumes of controlled transactions are banking – 57%, goods – 31% and financial services – 6%, the authority said.
As the fiscal service said, 34 out of 58 inspections started in 2014-2018 on taxpayers’ compliance with the arm’s length principle ended. According to their results, the supervising agencies added UAH 400 million of income tax, UAH 5.8 million of value-added tax (VAT) and reduced the amount of VAT refund by UAH 4.1 million. In addition, the supervising authorities also charged UAH 68 million penalty.
At the same time, 430 enterprises voluntarily increased their taxable income or reduced losses for operations in 2013-2016 by more than UAH 4.7 billion. “As a rule, this happened after receiving a request from the State Fiscal Service for the submission of documents on transfer pricing,” the authority said.
Ukraine on April 4 launches an online registration service for citizens of 46 states of electronic visas (e-visa) for entry with business or tourist purposes, the official website of the Ministry of Foreign Affairs of Ukraine has reported. “We are making Ukraine even closer to the world. Today we have launched an electronic visa. Citizens of 46 countries can now apply for a visa to Ukraine without leaving home,” Ukrainian Foreign Minister Pavlo Klimkin wrote on Twitter. The Foreign Ministry instructs that to fill out an e-Visa, one need to take a few simple steps without leaving home: fill out an online application form, download scanned copies of the required documents, pay by bank card (MasterCard Worldwide or Visa International) and print out electronic visa which was e-mailed to you.
Remote submission of documents at any convenient time and receipt of an e-Visa without the need to visit a consular office, the possibility of online tracking of the e-Visa application status, centralized registration of all e-visas in the Ministry of Foreign Affairs of Ukraine are benefits of e-Visa.
Processing time – up to nine business days; fee – $65; the term of validity – single entry for up to 30 days.
E-Visas are introduced for citizens of the following states: Australia, Antigua and Barbuda, the Commonwealth of the Bahamas, Barbados, Bahrain, Bolivia, Bhutan, Vanuatu, Haiti, Guatemala, Honduras, Greenland, Dominica, Dominican Republic, Indonesia, Cambodia, Qatar, Costa Rica, Kuwait, Laos, Mauritius, Malaysia, Maldives, Mexico, Micronesia, Myanmar, Nepal, Nicaragua, New Zealand, Oman, Palau, Peru, El Salvador, Samoa, Saudi Arabia, Seychelles, Saint Vincent and the Grenadines, Saint Lucia, Singapore, Suriname, Thailand, Timor-Leste, Trinidad and Tobago, Tuvalu, Fiji, Jamaica.
“The introduction of the e-Visa will facilitate a significant simplification of visa formalities for those who wish to visit Ukraine for the purpose of tourism or business and is a progressive step towards the development of the migration and visa sphere. The e-Visa project is implemented in cooperation with our long-time partners – State Border Guard Service of Ukraine, JSC Oschadbank and the Institute of Software Systems of the National Academy of Sciences of Ukraine,” the message reads.