On January 16, 2020, Verkhovna Rada abolished the so-called “soybean amendments” by adopting Draft Law #1210 “On Amendments to the Tax Code of Ukraine on Improvement of Tax Administration, Elimination of Technical and Logical Inconsistencies in Tax Legislation” in the second reading. Amendments #2123 and #2124 excluded the provision 63 of subsection 2 of section XX “Transitional Provisions” of the Tax Code of Ukraine which caused a decrease in acreage under soybeans, fall in prices and increase in costs for farmers.
The American Chamber of Commerce in Ukraine welcomes the abolishment of unequal system of export VAT refund, which provided VAT refund only to agricultural producers when exporting soybeans and rapeseed. It is expected that proper implementation of this decision of the Parliament will ensure equal conditions and protection of the rights of farmers who grow and export oilseeds (soybeans, rapeseed).
