Cabinet changes rules for export of agricultural products

The Cabinet of Ministers decided to change the rules/procedures for the export of agricultural products.

This is stated in the message of the Ukrainian Grain Association (UGA), Ukrainian News Agency reports.

"As it became known to UGA at the coordination council under the Ministry of Agrarian Policy and Food, the relevant government resolution is planned to be published this Monday. Within 10 days, the details of the updated export procedure will be worked out, which will involve, as the authors claim, the fight against the shadow market and the non-return of foreign exchange earnings to the country," the message says.

According to the innovations that the government plans to introduce, companies engaged in the export of agricultural products will need to be registered in the State Agrarian Register (SAR).

"Verification in the SAR will take place in the presence of a certificate of the taxpayer as of February 23, 2022 and now. Companies also need not to have an overdue return of foreign exchange earnings. Otherwise, the exporter will have to obtain a license to export agricultural products," the message says.

Another innovation will be a change in the procedure for refunding VAT to exporters, which will take place only after the exporter returns foreign exchange earnings.

The revenue return period has been reduced from 180 to 90 days.

In addition, the National Bank of Ukraine will prohibit closing accounts until currency controls are lifted.

As Ukrainian News Agency earlier reported, the Ukrainian Grain Association is concerned about the reports of grain market participants about the unjustified delay of ships loaded with grain for export in the ports of Great Odesa.