Ukraine will improve control over the return of revenue, Vysotskyi

The innovations provide for a tighter link between export operations and tax reporting.

In Ukraine, they plan to improve the control procedure for the return of foreign exchange earnings from the export of agricultural products. This was stated by First Deputy Minister of Agricultural Policy Taras Vysotskyi, writes Elevatorist.

According to Vysotskyi, now export will be possible only after registering the tax invoice and fixing the VAT. Only those companies that provide transparent documentation will have the right to export. At the same time, the refund of VAT for such companies will be possible only after the return of foreign exchange earnings.

The new procedure, which is planned to be implemented starting in November, is aimed at reducing the amount of unreturned foreign exchange revenue to 3-5%. Currently, the government is working on finalizing the relevant legal norms, and President Zelenskyy has already signed the necessary law.

Vysotskyi also reminded that an updated control system has been in effect since November 2023, which has significantly improved the situation with the timely return of foreign exchange earnings. Today, its level is more than 80%. At the same time, the total volume of unreturned currency decreased to 3-3.5 billion dollars, compared to 8 billion dollars earlier.

As USM wrote, the exporter, who was previously detained by the BEB, returned almost UAH 100 million to the budget.