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Imports of woodworking equipment exempt from VAT

May 19 the Verkhovna Rada   adopted the   bill number 2617 on Amendments to the Transitional Provisions of the Tax kodeksaotnositelno features taxation of import / supply of woodworking equipment for the revival of industrial production.

The bill proposes temporarily,   before 1 January 2017, to exempt from taxation the value added tax   operation to import into the customs territory of Ukraine and supply in the customs territory of Ukraine of woodworking equipment by codes 8465 32 00 and 8419 00 according to UKT VED.

To this end, it proposed subsection 2 of section XX   NC   is expected to complement the new item of relevant content.

In addition, the Rada   as a basis   bill number 2618 Amendments to the Final and Transitional Provisions of the Customs Code.

The project is proposed temporarily, until January 1, 2017,   exempt from import duty tax   woodworking equipment product group 8465 according to UKT VED.

These products do not apply non-tariff regulation of foreign economic activity, established by laws of Ukraine.

The purpose of the changes - to stimulate the development of woodworking sector and increase the export potential of the country by increasing production of wood products, attraction of investments, creation of new jobs.

Source: Website ЮРЛИГА 

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