Cancellation of VAT allowance for green energy equipment
Power-generating equipment – wind turbines, solar panels, inverters – are no longer exempted from import VAT until 2022, as required by applicable law.
On January 16, 2020, the Verkhovna Rada of Ukraine approved the new law-in-draft № 1210 “On amendments to the Tax Code of Ukraine on improving tax administration, removing technical and logical inconsistencies in the tax legislation”. It means that import benefits for power-generating equipment defined by the Ukrainian Classification codes of international economic activity are cancelled.
This law-in-draft introduces international tax control standards for international trade participants. Amendments to existing legislation are also being made in the consideration of matters The Commission on the Review of Objections, the procedure for appealing against decisions of the controlling authorities is being improved by forming of a permanent advisory authority of the central executive authority – the Appellate Council for consideration of complaints of taxpayers.