From January 1, 2018, Ukrainian port duty rates have been reduced by 20%

22 Янв

The Government has supported the proposal of the Ministry of Infrastructure of Ukraine to reduce port duties by 20% starting from January 1, 2018. It concerns the rates of ship, canal, beacon, sanitary, anchor, berthing and administrative fees.                                      The corresponding decision was agreed during the session of the Cabinet of Ministers of Ukraine on January 11, 2018.
In addition, it is expected that starting from January 1, 2018, the payment of part of the net profit deducted by the Ukrainian Sea Ports Authority (USPA) to the state budget will be made at the rate of 50%.
Minister of Infrastructure of Ukraine Vladimir Omelian thanked the government for its support infrastructure reforms and emphasized that the decision will increase the competitiveness of Ukrainian ports: “We promised – and we did. I thank the Government for supporting such an important initiative. We count on a comprehensive effect from the implementation of such a solution: cheaper logistics, increased volumes of cargo transshipment by Ukrainian ports, increased competitiveness, and as a result – the full inclusion of Ukraine in international transport corridors, the development of the New Silk Road. ”
For his part, the director of USPA, Raivis Veckagans, emphasized that this decision is extremely important, but not the last step in the development of the maritime industry of Ukraine.
“The decision to reduce port duties is an important event in the port sector, and, hopefully, such a step will have a positive effect on the financial performance of the industry. But this is not the last step in the development of the maritime industry of Ukraine. We will continue to move to international standards. At the same time, with the decrease of port fees , the level of deductions of USPA’s income to the state budget will decrease , which gives us the opportunity not to reduce the volume of investments in the development of ports , ” said Rajiv Veszkagans.
Source: USPA