Business news from Ukraine

Business news from Ukraine

Ukrainian Parliament updates Customs Tariff to facilitate foreign trade

The Verkhovna Rada on Wednesday adopted law No. 7737 that brings the Customs Tariff of Ukraine in line with the requirements of the International Convention on the Harmonized Commodity Description and Coding System in the 2022 version.
According to information on the website of the parliament, 289 MPs voted “for” with the required minimum of 226 votes.
The head of the Rada committee on the fuel and energy complex, Andriy Herus, proposed exempting from customs duties the import of equipment by companies engaged in the transportation, production and distribution of gas and electricity as humanitarian aid, but was not supported.
Hanna Kolesnyk, who represented the position of the committee, pointed out that the list of goods proposed by Herus is too broad and needs to be revised, that exemption from import duties is provided by the Customs Code and does not relate to the regulation of the Customs Tariff, while the Ministry of Finance and the Ministry of Economy are against supporting this proposal.
As the Ministry of Economy explained earlier, the current Customs Tariff of Ukraine is based on the international system of the 2017 version, while most countries of the world (China, the USA, the EU, Turkey, Switzerland) have already switched to the 2022 version. In this regard, there are a number of complications associated with differences in commodity codes in the customs clearance of imported products or when comparing the customs statistics of Ukraine and trading partners.
The ministry clarified that the law introduces more than 350 changes to commodity codes, mainly in relation to agricultural, chemical, forestry goods, textiles, non-ferrous metals, engineering, transport, etc.
It was emphasized that the new customs tariff does not provide for changes in the rates of import duty on goods.

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Government proposes to Parliament to update Customs Tariff of Ukraine to improve foreign trade

The Government on Friday approved a bill that brings the Customs Tariff of Ukraine in line with the requirements of the International Convention on the Harmonized Commodity Description and Coding System in the 2022 version, the Ministry of Economy reported.
The agency explained that the current Customs Tariff of Ukraine is built on the basis of such an international system of the 2017 version, while most countries of the world (China, the USA, the EU, Turkey, Switzerland) have already switched to the 2022 version.
In this regard, there are a number of complications associated with differences in commodity codes in the customs clearance of imported products or when comparing the customs statistics of Ukraine and trading partner countries.
“Ukraine is adapting to international standards for the classification of goods. We need this in order to increase our own exports, enter new markets, strengthen competitive advantages in world trade,” First Deputy Prime Minister Yulia Sviridenko, Minister of Economy, said in the release.
The Ministry of Economy clarified that if the bill is adopted, more than 350 changes will be made to commodity codes, mainly in relation to agricultural goods, chemical, forestry, textiles, non-ferrous metals, engineering, transport, etc.
The report clarifies that the new customs tariff does not provide for changes in the rates of import duty on goods.

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