VAT refund for oilseeds exporters abolished by the Ukrainian Parliament

The Ukrainian Parliament (the Verkhovna Rada of Ukraine) voted to abolish value added tax (VAT) refund for the export of soybeans, rapeseed and sunflower from March 1, 2018.

This was informed by Ivan Miroshnichenko, MP and Member of the Parliamentary Committee for Agrarian Policy and Land Relations, reports AgroPolit.com.

"Changes to the Tax Code were received just before the vote. We began reading and found very interesting things. Without agreement and notice, amendments 180 and 182 were made. The consequences are — VAT will not be refunded for the export of oilseeds and industrial crops (sunflower, rape and soybean) from Ukraine. This is the discriminatory norm that was observed earlier, when there was no VAT refund for the grain group. The fight lasted a long time to bring it back. What for? Because of this, the domestic price for commodity producers of these crops has grown. The amendments destroyed all the prospects for the agrarians. As early as tomorrow, the procurement price for commodity producers will be reduced by processors, as well as by exporters. The reason is simple - the state will not refund them VAT. That is, agrarians will loose UAH 10 billion annually," he summed up.

On December 7, the Verkhovna Rada of Ukraine adopted the State Budget 2018.