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Agriculture

Policy Win: The President of Ukraine Signed the Law Abolishing the “Soybean Amendments”

Policy Win: The President of Ukraine Signed the Law Abolishing the “Soybean Amendments”

The so-called “soybean amendments” were abolished as the President of Ukraine Volodymyr Zelenskyy signed Law #466-ІХ “On Amendments to the Tax Code of Ukraine on Improvement of Tax Administration, Elimination of Technical and Logical Inconsistencies in Tax Legislation”. The mentioned Law excluded provision 63 of subsection 2 of section XX “Transitional Provisions” of the Tax Code of Ukraine that created an unequal system of export VAT refund whilst providing VAT refund only to agricultural producers when exporting soybeans and rapeseed.

The American Chamber of Commerce in Ukraine welcomes abolishment of “soybeans amendments” that earlier caused a decrease in acreage under soybeans, fall in prices and increase in costs for farmers. Experts of the Chamber Agricultural Committee have been supporting this initiative in respective Chamber letters and during meetings with state officials to ensure equal conditions and protection of the rights of farmers who grow and export soybeans and rapeseed.