Ministry of Infrastructure of Ukraine (MIU) has developed and publicised for debating a draft law to amend the country’s Tax Code with regard to adoption of Law of Ukraine on Multimodal Transport, the MIU Press Office reports.
“The draft Law on Amendments in Tax Code of Ukraine Arising out of Enactment of Law on Multimodal Transport was designed by Ministry on its own initiative. The bill is aimed at incentive of multimodal traffic development by way of granting tax abatements to tax-payers in the field of multimodal transportations”, the release says.
In particular, MIU suggests adding into Tax Code the clause exempting till 01 January 2031 from VAT operations concerning import in the customs area of Ukraine of equipment intended for utilisation in the multimodal terminals productive activities. The list of equipment for multimodal terminals with relevant customs codes shall be approved by Government. The exemption is to cover not only multimodal terminals equipment import operations, but also the operations of such equipment delivery onto the customs area of Ukraine.
On the same lines, it is noted that in case of non-purpose use of the said equipment, the tax-payer would be subject to increase of his tax liability for the period of violation on the amount of VAT to be paid at the time of the equipment’s import, plus penalty according to the law.
Besides, this tax privilege shall not be granted if the equipment is imported from the state regarded as an aggressor by law, or is manufactured in its territory, or from the occupied territory of Ukraine.
Also, the draft law envisages exemption till 01 January 2031 of a tax-payer’s income arisen from the cargo transhipment services at the multimodal terminal launched in operation (and for newly built terminals for 10 years from the launch), and combined transportation services, from taxation during such incomes accounting calculations.
Any remarks, opinions and suggestions from natural and legal entities as well as their alliances will be accepted by MIU till 29 June 2020 inclusively, both as written and e-documents.
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