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Policy Win: Parliament Adopted Draft Law #7420 Amending Customs Code

Policy Win: Parliament Adopted Draft Law #7420 Amending Customs Code

On August 15, 2022, the Parliament adopted Draft Law #7420 amending the Customs Code of Ukraine on certain issues of the implementation of Chapter 5 of Title IV of the Association Agreement between Ukraine, of the one part, and the European Union, the European Atomic Energy Community and its Member States, of the other part (Draft Law) in the second reading.

The Draft Law is aimed at implementing several provisions of the EU Customs Code (EU Regulation #952/2013) and the Convention on a common transit procedure to the Ukrainian customs legislation. The proposed changes concern, among other things, the possibility of providing certain simplifications of customs clearance for reliable enterprises without the status of an authorized economic operator, the introduction of "end-use" concepts, provisions on customs authorities' decisions, changes in guaranteeing payment of customs duties, etc. In addition, amendments improve the current requirements for granting AEO status to reliable enterprises to confirm the criterion of financial stability.

AmCham Ukraine member companies’ experts support the harmonization of Ukraine's customs legislation with the international best practices and believe that the introduced changes will increase the number of enterprises aiming to obtain the AEO status and help speed up the customs procedures.

We would like to thank the Chamber Customs Committee Co-Chairs Vita Miroshnychenko, PwC, Anton Melnyk, EY, and all AmCham Ukraine members who were actively involved in this advocacy process for their contribution.

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