Last Updated: The Verkhovna Rada for five years one year released electric vehicles from paying VAT and excise

 


Yesterday late in the evening the Verkhovna Rada of Ukraine, together with the state budget for 2018, adopted a traditional budget package of documents with changes in various normative acts. Among other things, a number of amendments were made to the Tax Code, including long-awaited changes regarding the import of electric vehicles. In particular, we are talking about the abolition of VAT (20%) and excise tax for electric vehicles. 252 people’s deputies voted for the relevant draft law No.6776-d, “Interfax-Ukraine” reports.

It should be stipulated that electric vehicles were exempted from paying value added tax (VAT) and excise tax for a five-year period. That is, for five years it will be possible to import electric vehicles without paying VAT and excise tax, after which the norm will be revised. However, for a start this is very good. Especially given the fact that the import duty on electric vehicles was completely abolished two years ago, and recently approved a seven-year transition to zero import duty on new cars with ICE from the EU.

Updated: As it turned out, canceled not for five years, as proposed, but only for one year. On the vote broadcast by the 112 Ukraine TV channel, the head of the BPP faction, Artur Gerasimov, made appropriate corrections to reduce the term from five to one years.

“Please support this budget in the light of the following technical amendment. The final provisions of the draft law on the budget shall be supplemented with the following paragraph. To establish that the norms and provisions of clause 13 of subsection 2 and clause 15 of subsection 5 of section 20 of the final provisions of the Tax Code on exemption from taxation of value added tax and excise duty for the importation of vehicles equipped with electric engines to the customs territory of Ukraine are valid until January 1, 2019, “- said Gerasimov.

Source:” Interfax-Ukraine ”

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