Zelensky signed laws on incentives for industrial parks

The president Volodymyr Zelensky signed laws No. 5688 and No. 5689 on tax and customs incentives for industrial parks, which were adopted by the Verkhovna Rada less than a month ago.

Dmitry Kisilevsky, Deputy Chairman of the Verkhovna Rada Committee on Economic Development, wrote about it on his Facebook page.

“There are 53 industrial parks registered in Ukraine. 3-4 actually work now. For the main thing that makes an industrial park attractive to an investor is incentives. With the adoption of these two bills (No. 5688 and No. 5689) and one before last year (No. 4416-1), we have formed a package of basic legislation on industrial parks, the application of which will solve 3 important problems of the industrial investor: land, connection to networks, the cost of the main production equipment,” the parliamentarian wrote.

As GMK Center reported earlier, in the second half of June, the Verkhovna Rada accepted in the second reading, bills No. 5688 and No. 5689, providing for a number of new tax and customs benefits for industrial parks. 236 and 230 deputies voted for bills No. 5688 and No. 5689, respectively.

Bills No. 5688 “On Amendments to the Tax Code of Ukraine regarding the creation of favorable conditions for attracting large-scale investments in industrial production” and No. 5689 “On Amendments to the Customs Code of Ukraine regarding the creation of favorable conditions for attracting large-scale investments in industrial production” propose:

• exempt from VAT the import of new equipment for the industrial park’s own use for carrying out activities in the processing industry or research activities;
• exempt residents of the industrial park from income tax for ten years;
• to give the right to local authorities to establish preferential rates of real estate tax and land fees.

Earlier, GMK Center informed, that in early June, the Cabinet of Ministers at its meeting approved creation of two new industrial parks in Ukraine: “L-Town Park” (Kyiv region) and “Maramuresh” (Zakarpattian region). In turn, in Drohobych, Lviv region, at the initiative of the city council are planning to build an eco-smart industrial park “Galit” with a total cost of $32 million.