Reimbursement for the purchase of Ukrainian machinery increased to 20%

Photo by: Latifundist.com

The reimbursement for the purchase of Ukrainian agricultural machinery increased from 15% to 20%. It is reported by the press service of Ministry of Agrarian Policy.

Such reimbursement changes were approved at the meeting of the Cabinet of Ministers of Ukraine on 1 March.

"We have increased the compensation for Ukrainian machinery from 15% to 20%. We are grateful to the association for improvements and the government for their support. I believe that these changes will further stimulate the production of Ukrainian agricultural machinery", said the Minister of Agricultural Policy and Food of Ukraine Taras Kutovoy.

In order to receive the reimbursement for the machinery, the manufacturer will only need to submit the application and documents confirming the machinery purchase to the state bank. After receiving the relevant documents within a month Ministry of Agrarian Policy transfers funds to the state-owned bank, which reimburses to the producer 20% of the purchased machinery costs without VAT.

"We want the agrarians support to be systematic and complex. We strive to create the conditions under which both manufacturers and agrarians have an incentive to develop", said Taras Kutovoy.