Business news from Ukraine

MOLDOVA READY TO CONTINUE PROVIDING HUMANITARIAN AID TO UKRAINE

Moldova is ready to continue providing humanitarian aid to Ukraine and to accept more refugees from Ukraine, Moldovan President Maia Sandu said.
“The Moldovan government has also provided humanitarian aid in Vinnytsia, Odesa, Chernivtsi and Mykolaiv regions to cover all the growing needs of the people who live there, and we are ready to continue to provide this assistance,” Sandu said at a press conference following talks with Ukrainian President Volodymyr Zelensky in Kyiv on Monday.
Sandu pointed out that about 500,000 people from Ukraine went to Moldova after Russia’s large-scale aggression. According to her, there are still 73,000 refugees from Ukraine in Moldova, 42,000 of whom are children.
“I confirmed our readiness to provide them with all the necessary support and accept more people if necessary,” Sandu assured.

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UKRAINE ERWÄGT DIE MÖGLICHKEIT, DIE KRAFTSTOFFBESTEUERUNG ZURÜCKZUGEBEN

Das Financial Stability Board (FSB), dem insbesondere die Führung der Nationalbank und des Finanzministeriums der Ukraine angehören, schlägt vor, die bevorzugte Besteuerung von Kraftstoffen aufzugeben. Laut dem Pressedienst der NBU auf der Website vom Montag wird eine Erhöhung der Einfuhrsteuern, insbesondere der Verbrauchsteuern auf Kraftstoff, als eine der Möglichkeiten zur weiteren Steigerung der Haushaltseinnahmen vorgeschlagen.

„Nach den Ergebnissen von Januar bis Mai 2022 war das Staatshaushaltsdefizit größer als für das gesamte Jahr 2021 und 2020. Die Haushaltseinnahmen gingen zurück, auch aufgrund der Vorzugsbesteuerung von Importen, während gleichzeitig die Ausgaben vor allem erheblich anstiegen für militärische Zwecke und soziale Programme”, sagte die NBU in einer Erklärung.

Wie berichtet, einigte sich das FSB am 23. Juni auf zentrale Aktionsbereiche, um das Staatshaushaltsdefizit zu verringern und das Volumen seiner monetären Finanzierung zu reduzieren: Optimierung der Staatsausgaben und des Einnahmenwachstums, Aktivierung der Kreditaufnahme auf dem Inlandsmarkt und Erhöhung der Vorhersehbarkeit der internationalen Hilfe .

Ende März verabschiedete die Rada Änderungen der Abgabenordnung, wonach sie die Verbrauchssteuer auf die Lieferung von Benzin und Flüssiggas abschaffte und die Mehrwertsteuer auf die Einfuhr von Motorkraftstoff auf 7 % senkte.

Anschließend wurde der Rada ein Gesetzentwurf vorgelegt, der die Ablehnung dieser Leistungen vorsah, jedoch wurden diese Normen noch vor ihrer Einführung in die Halle davon ausgenommen, da sie eine noch stärkere Erhöhung der Kraftstoffpreise befürchten ließen. Infolgedessen werden ab dem 1. Juli die Einfuhrprivilegien für die meisten Waren gestrichen, für Kraftstoffe bleiben sie jedoch erhalten.

Die Nationalbank der Ukraine schlägt der Regierung und der Rada außerdem vor, einen zusätzlichen Einfuhrzoll von 10 % einzuführen, ähnlich dem von 2014-2015, um den Druck auf die Griwna zu verringern und den Staatshaushalt aufzufüllen. Die Regierung und der Profilausschuss haben sich jedoch bisher geweigert, eine solche Maßnahme anzuwenden.

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UKRAINE IS CONSIDERING POSSIBILITY OF RETURNING FUEL TAXATION

The Financial Stability Board (FSB), which includes, in particular, the leadership of the National Bank and the Ministry of Finance of Ukraine, proposes to abandon the preferential taxation of motor fuel. According to the press service of the NBU on the website on Monday, an increase in taxes on imports, in particular excises on fuel, is proposed as one of the ways to further increase budget revenues.

“According to the results of January-May 2022, the state budget deficit was larger than for the whole year of 2021 and 2020. Budget revenues decreased, including due to preferential taxation of imports, while at the same time, spending increased significantly, primarily for military needs and social programs,” the NBU said in a statement.

As reported, on June 23, the FSB agreed on key areas of action to narrow the state budget deficit and reduce the volume of its monetary financing: optimization of government spending and revenue growth, activation of domestic market borrowing and increasing the predictability of international aid.

At the end of March, the Rada adopted amendments to the Tax Code, according to which it canceled the excise tax on the supply of gasoline and liquefied gas and reduced VAT on the import of motor fuel to 7%.

Subsequently, a draft law was submitted to the Rada that provided for the rejection of these benefits, but these norms were excluded from it even before they were introduced to the hall, as they caused fears of an even greater increase in the price of fuel. As a result, from July 1, import privileges for most goods will be canceled, but they will remain for motor fuel.

The National Bank of Ukraine is also proposing to the government and the Rada to introduce a 10% additional import duty, similar to the one that existed in 2014-2015, to ease pressure on the hryvnia and replenish the state budget. However, the government and the profile committee have so far refused to apply such a measure.

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MORE THAN 200 THOUSAND CARS WERE IMPORTED TO UKRAINE FROM EUROPE ON PREFERENTIAL TERMS

Ukrainians imported 211,000 cars from Europe on preferential terms, and the number of imported cars increased by 48,000 in two weeks, Yaroslav Zheleznyak, deputy head of the Verkhovna Rada committee on finance, tax and customs policy, said.
“As of June 27, 211,000 cars entered Ukraine under preferential customs clearance. Over the past 2 weeks, an additional 48,000 cars have been brought in,” he said on the Telegram channel on Monday.
The total amount of the benefits provided amounted to UAH 23.5 billion, he added.
After the news about the abolition of benefits from July 1, as envisaged by the legislative changes adopted by the Parliament, the pace of car imports has increased significantly. On weekdays in June, an average of 4.7 thousand cars are imported per day compared to 3.2 thousand in May, the People’s Deputy specified.
“In fact, it would probably be many times more, the throughput capacity of foreign and our customs limits. To understand, there are now a line of 1000 cars and 9.5 km at the same Budomez-Grushev, the Polish side passes very slowly. At the checkpoint” Yagodin “The queue is generally 40 km,” Zheleznyak pointed out.
“It is also significant that four times more than usual was imported over the weekend. This Saturday, 2,400 cars drove in, although this figure was usually less than 650 cars on weekends,” he added.

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G7 COUNTRIES TO ANNOUNCE NEW AID TO UKRAINE – BLOOMBERG

The leaders of the G7 countries will announce the provision of new financial, humanitarian and military support to Ukraine, Bloomberg reports citing a draft statement of these countries from the summit in Bavaria.
“We will continue to provide financial, humanitarian, military and diplomatic support to Ukraine, as well as support it for as long as necessary,” the agency quotes from a document received by it.
Bloomberg emphasizes that this “wording is important because the members of the G7 are concerned about the prolongation” of the war. However, some countries, including Germany and France, “have hinted that they may be more open to the idea of a negotiated ceasefire.”
According to the agency, the document says that the leaders of the G7 are also considering the possibility of using revenue from duties to support Ukraine.
It is noted that earlier the G7 discussed how to coordinate actions to combat rising inflation and prevent a recession, as well as ways to maintain “pressure on Russia.”
The G7 summit is taking place in Bavaria on June 26-28.

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UKRAINE AND MOLDOVA PLAN TO RESUME RAILWAY COMMUNICATION FOR FREIGHT TRAFFIC IN BEREZINO-BESSARABSKAYA SECTION IN AUTUMN

Ukraine and Moldova are planning to resume rail traffic for freight traffic on the Berezino-Bessarabskaya section in autumn 2022.
The Memorandum of Understanding between the Ministry of Infrastructure and Regional Development of the Republic of Moldova and the Ministry of Infrastructure of Ukraine on the development of railway communication was signed on June 23, 2022, according to the website of the Moldovan Ministry.
The document was signed by Vice Prime Minister of Moldova Andrei Spinu and Minister of Infrastructure of Ukraine Alexander Kubrakov.
“Thus, the Republic of Moldova will be able to export / import goods through the port of Izmail, located on the Danube, reducing congestion in the port of Reni. At the same time, through this section of the railway line, Ukraine will be able to export goods to the Republic of Moldova and to the EU countries” , – indicated in the message.
The Berezino-Basarabskaya railway section on the territory of Ukraine was dismantled in 1997, and in 1999 the section between the stations “Rotovo” and “Raukhovka” on the aforementioned line bypassing Odessa was closed.
The construction of the site is expected to be carried out for approximately 23 km. Of these, 1.2 km of the railway will be built on the territory of the Republic of Moldova.

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