2021-07-29T18:19:00+03:00 Politics 2024-08-15T06:47:29+03:00

Ukrainian news

Zelenskyy Signs Bill On Reintroduction Of 20% VAT Rate For Livestock, Milk, Rye, Oats, Flax, And Sugar Beet

Zelenskyy Signs Bill On Reintroduction Of 20% VAT Rate For Livestock, Milk, Rye, Oats, Flax, And Sugar Beet

President of Ukraine Volodymyr Zelenskyy has signed the bill on reintroduction of a 20% rate of value-added tax on operations involving the sale of cattle, pigs, sheep, milk, rye, oats, flax, and sugar beet.

This was announced in a statement on the presidential website, the Ukrainian News Agency reports.

"President of Ukraine Volodymyr Zelenskyy has signed bill No. 1600-IKh ‘On Amendments to the Tax Code of Ukraine Regarding the Rate of the Value-Added Tax on Operations Involving Supply of Certain Types of Agricultural Products,’ which the parliament adopted on July 1," the statement said.

The document is intended to reduce the risk of an increase in food prices and create equal conditions for agricultural producers and enterprises in the processing industry regarding value-added tax.

The law reintroduces the 20% rate of the value-added tax during the importation of cattle, pigs and sheep, milk, rye, oats, flax seeds, oilseeds, and sugar beet into Ukraine.

At the same time, it retains the 14% VAT rate for operations involving the supply of wheat and rye mixture (meslin), barley, corn, soybeans, rapeseed, and sunflower.

The document will enter into force the next day after its publication, and it applies to tax periods beginning from the first day of the month following the month of its publication.

As Ukrainian News Agency earlier reported, the parliament adopted the bill on the reintroduction of the 20% VAT rate on livestock, milk, rye, oats, flax, and sugar beet on July 1.

Earlier, the Ministry of Agrarian Policy and Food called for the establishment of a 14% VAT rate for operations involving the supply and import of all types of agricultural products into Ukraine.