The Government of Ukraine approved changes to the Procedure for importing equipment for investment projects with significant investments
The Government of Ukraine has approved changes to the Procedure for importing into the customs territory of Ukraine and using new equipment and components that investors with significant investments import for their own needs in within the scope of implementation of investment projects. The new rules should remove barriers for business and make participation in the state support program more convenient.
In particular, the introduced changes extend the deadline for submission by investors of the list and volumes of equipment from 5 days to 12 months after receiving a conclusion on the feasibility of project implementation. This will allow investors to determine the final configuration of the technological process, conduct tenders and select suppliers without artificial time limits.
The document also cancels the requirement to indicate the country of origin of goods. Since the equipment is often produced by multinational companies with the involvement of sub-suppliers from different countries, the requirement to indicate the country of origin created difficulties during customs clearance and the need to adjust investment agreements in case of a change of manufacturer.
The difference between the estimated and customs value of the equipment is settled separately. Now the price will be indicated in the currency of the supply contract with the total amount in hryvnias, which will avoid problems related to exchange rate fluctuations and simplify the implementation of investment projects.
Government support for investors provides for more flexible deadlines for determining the final list of equipment, removing barriers related to the origin of goods, as well as harmonizing price indicators with the real value of contracts.
The main conditions for participation in the program remain: investments of more than €12 million and the creation of at least 10 jobs, implementation of projects in areas ranging from the processing industry and transport to medicine, education and tourism, as well as the implementation period of up to 5 years.
“The proposed changes harmonize state procedures with real business processes, make them more predictable and convenient for investors. This is another step towards the formation of modern rules of state support, which allow attracting significant investments to the Ukrainian economy even in difficult times, noted the Deputy Minister of Economy, Environment and Agriculture of Ukraine Vitaliy Kindrativ.
