By KYIV. Jan 29 (Interfax-Ukraine) – The Ministry of Economy proposes to supplement adopted bill No. 10168 with amendments to the Tax Code and other laws on improving the implementation of foreign economic transactions for the export of certain goods with a rule linking VAT compensation to grain exporters with the return of foreign currency earnings to them, MP Yaroslav Zhelezniak (the Holos parliamentary faction) has said.
The document he published shows that the Ministry of Economy proposed that an Export Security Regime is introduced, according to which exporters of grains and oilseeds are obliged to pay VAT when exporting their products at the domestic rate until the return of foreign currency earnings.
“It is necessary to use the capabilities of the State Agrarian Register to confirm the correspondence of the volume of goods that are exported with the legally manufactured and purchased volume of goods in accordance with the data of the traceability system of the origin of agricultural products,” the ministry said in the document.
The Ministry of Economy also proposes that the Cabinet of Ministers is authorized to expand the Export Provision Regime to additional types of raw materials, the MP added.
Moreover, the ministry wants to implement a limit on unconditional registration of export tax invoices. According to the document, the procedure for such a limit should be determined by the Cabinet of Ministers.
At the same time, taking into account the fact that this system is now at the stage of active formation, it is proposed to consolidate this mechanism at the level of the Tax Code of Ukraine at the stage when the State Agrarian Register contains a sufficient amount of information.
In addition, the Ministry of Economy proposed that the price floor for certain types of goods is set in accordance with the procedure determined by the Cabinet of Ministers.
