Ukraine Implements New Rules to Regulate Food Exports and Prevent Tax Avoidance

• Ukraine will introduce mandatory registration of food export companies to prevent tax avoidance and other abuses in the export of agrarian goods.
• Up to a third of goods for export are bought in cash without paying necessary taxes.
• The new procedure requires companies to be registered in the State Agrarian Register, be VAT payers, and have no tax debts or delays in returning foreign currency proceeds.
• The goal is to prevent abuses and violations of the law during the export of goods and protect the rights of agricultural entities.
• Ukraine has previously tried to tighten controls on grain exports, and the southern region of Odesa introduced an export control mechanism for grain.
• Ukraine’s grain exports in October decreased by almost half compared to the previous year.
• Blocked Ukrainian Black Sea ports and Russian attacks on Ukrainian ports are cited as reasons for lower exports.

Source: reuters.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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