On July 7, 2022, the Directorate-General for Taxation and Customs Union decided to invite Ukraine to the Convention on the Common Transit Procedure (NCTS) and the Convention on the Simplification of Formalities in Trade in Goods.
Establishing a common transit regime will allow Ukraine to apply European transit rules, enabling enterprises to use a single customs declaration and a single guarantee for moving goods from their warehouse to the counterparty's warehouse between 36 countries. Ukrainian financial guarantees will be valid in 35 countries of the world.
AmCham Ukraine members consistently supported the implementation of the provisions of the Convention on the Common Transit Procedure (NCTS) and the Convention on the Simplification of Formalities in Trade in Goods into the national legislation of Ukraine. In addition to the mentioned simplifications for business, this step is also a fulfillment of the terms of the Association Agreement between Ukraine and the European Union.
AmCham Ukraine, jointly with the Ministry of Finance of Ukraine, the State Customs Service of Ukraine, and the EU4PFM Program (EU Public Finance Management Support Program for Ukraine), held webinars for the business community on the legislative changes’ peculiarities and will continue working on simplifying and speeding up customs clearance.
We would like to thank the Chamber Customs Committee Co-Chairs Vita Miroshnychenko, PwCa and Anton Melnyk, EY, as well as all AmCham Ukraine members who were actively involved in this advocacy process for their contribution. The Chamber will continue working on the proper implementation of these changes.
