Poroshenko signs oilseed export VAT bill into law
03.09.2018 19:11 "Agro Perspectiva" (Kyiv) —
As of last week, Ukrainian President Petro Poroshenko signed a draft Law amending the Ukrainian Tax Code o Ukraine as for some issues of taxation of transactions to export oilseeds with VAT, Interfax-Ukraine says referring to the Verkhovna Rada report.
As to the report, the draft Law says that the annulment of VAT refunds for soybeans and rapeseeds exports does not apply to the agricultural companies which planted soybeans and rapeseeds on their farmland.
It is to be mentioned, as of this year May 22, Verkhovna Rada amended the Tax Code, retaining the temporary annulment of VAT refunds for traders who export soybeans within Sept 1, 2018 - Dec 31, 2021 (rapeseeds - within Jan 1, 2021 - Dec 31, 2021). The parliament allowed that the requirement does not apply to the agricultural producers.
In meanwhile, the European Business Association (EBA) asked the president to veto the bill, believing that it would create discriminative conditions on the market and would result within violation of the free competition principles.