Export regime for agricultural products was introduced in Ukraine

The government decided to introduce an export support regime for 14 types of agricultural products.

This was reported in the press service of the Ministry of Economy of Ukraine.

“According to the data of the Bureau of Economic Security and the State Tax Service, over 5 million tons of agricultural products worth over UAH 50 billion were exported in less than 8 months of this year, with signs of the risk of non-return of foreign exchange earnings. Therefore, with the aim of minimizing schemes for violating Ukrainian legislation during the export of certain types of goods, bringing a significant part of the economy out of the shadows and increasing revenues to the State Budget, the Government is introducing an export support regime for some categories of agricultural products,” commented Trade Representative of Ukraine Taras Kachka.

The resolution adopted by the Cabinet of Ministers on October 29, 2024 establishes new rules for exporters:

• export of goods is allowed only for registered VAT payers;

• introduction of minimum export prices for products subject to export security. At the same time, the difference between the invoiced and customs value of the goods cannot be negative;

• electronic data exchange between the National Bank, the State Tax Service and the State Customs Service to monitor exporters’ compliance with requirements;

• a special procedure for drawing up a tax invoice and registering it in the Unified Register of Tax Invoices.

The export support regime will apply to the following products: honey, nuts, wheat, rye, barley, oats, corn, soybeans, rape and sunflower seeds, as well as soybean, sunflower and rapeseed oil and cake.

The resolution will enter into force 30 days after the adoption of all necessary by-laws for the implementation of the Law of Ukraine dated May 9, 2024 No. 3706-IX.

As USM wrote, earlier the Cabinet of Ministers approved the procedure for establishing minimum prices for export grain.