Economy 2021-11-15T06:08:39+02:00
Ukrainian news
Rada Changes Taxation Of Passenger Car Imports

Rada Changes Taxation Of Passenger Car Imports

Verkhovna Rada, passenger car, import, taxation

The Verkhovna Rada of Ukraine has changed taxation of import of passenger cars.

A total of 250 parliamentary members backed respective bill 8487 in principle, when 226 votes were enough to pass the decision, the Ukrainian News Agency reports.

The excise tax base rates will be as follows: EUR 50 for gasoline cars with the engine displacement of 3,000 cubic centimeters, EUR 100 for gasoline cars with the engine displacement of over 3,000 cubic centimeters, EUR 75 for diesel cars with the engine displacement of up to 3,500 cubic centimeters, and EUR 100 for diesel cars with the engine displacement of over 3,500 cubic centimeters.

There are the base rate to be added with coefficients.

During the first 90 calendar days after enactment of the law, a decreasing coefficient of 0.5 will be in force for the base rates.

The size of the excise tax to be paid equals a base rate multiplied by the coefficient of an engine and coefficient of age.

The Coefficient of age is the number of full calendar years.

The engine coefficient will be calculated as follows: its displacement parameter will be divided by 1000.

The Chairman of the Verkhovna Rada for Tax and Customs Policy / member of the Ukrainian Parliament of the Petro Poroshenko Bloc parliamentary faction, Nina Yuzhanina, said that the age coefficient was decided to be limited to the ceiling level of 15.

That means if a car is older then 15 years, the coefficient will remain 15.

A person who imports a car to Ukraine under the transit regime or temporary import regime cannot hand it over to anybody else or disassemble it.

To register such cars, their owners will have to pay a fine of UAH 8,500.

According to Yuzhanina, all the funds will be channeled into the state budget for the purposes of pension coverage.

Besides, owners of the said vehicles will have to pay 20-percent value added tax (VAT) and a fee to the Pension Fund.

If a vehicle had not earlier been registered in Ukraine, its owner will have to pay a tax to the Pension Fund worth 3-5% depending on the cost that depends on the level of the living wage for respective year.

As Ukrainian News Agency earlier reported, in 2017, customs clearance of cars at lowered rates rose 4.6 times to 69,500.

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