The Committee of the Verkhovna Rada approved draft laws on new tax benefits for industry

The Verkhovna Rada’s Committee on Finance, Tax and Customs Policy recommended that the parliament adopt several draft laws on additional support for Ukrainian industry and business during martial law. Dmytro Kysylevskyi, the deputy head of the specialized committee, reported about it on his Facebook page.

“These documents make the import of production equipment cheaper and stimulate the processing of raw materials in the country instead of its export,” the Deputy noted.

Bills №8298 and №8299, in particular, make the following changes to the Tax and Customs Codes:

• exemption from taxation of import duty and VAT of equipment and components imported for own production during the period of martial law,
• exemption from VAT and import duty of equipment for institutions of professional (professional and technical) and professional higher education,
• rent benefits for the use of subsoil for the extraction of iron ore, which is processed within the country.

In addition, it is about the extension of the service terms of registered settlement transactions until the end of the martial law and benefits under the single tax for payers of the 4th group.

As Dmytro Kysylevskyi noted, the rule regarding the rent allowance for iron ore should stimulate the processing of raw materials by Ukrainian plants in conditions of significant destruction. According to him, export iron ore will be subject to rent in full.

The People’s Deputy reported that the specialized committee of the Verkhovna Rada also recommended the adoption of draft law №8274, which amends the Customs Code regarding the temporary features of determining the declared value of raw export goods, which is the basis of taxation when applying export duties.

As GMK Center reported earlier, the Cabinet of Ministers has approved regulations on the specifics of electricity import during the autumn-winter period of 2022/2023 under the conditions of martial law in Ukraine. According to Taras Melnychuk, the permanent representative of the government in the Verkhovna Rada, the regulation provides for the non-application of measures to limit the selection of electric energy to consumers who are supplied with imported electric energy.