Parliament considers bill to extend VAT exemption on supply of software products

The Ukrainian Parliament accepted for consideration Bill No. 7611, to extend the VAT exemption on the supply of software products to Jan. 1, 2028, from Jan. 1, 2023.  The main goal of the draft law is for the country to achieve European and world leadership in the IT industry in the coming years. The draft law is aimed at further state support of the level of competitiveness and attractiveness for foreign and domestic customers of the national information technology industry by prolonging for the next 5 years the features of taxation with the tax on the added value of software products for IT companies.