The Parliament of Ukraine to cancel the import surcharge
On 24 December 2015, the Parliament of Ukraine adopted the Draft Law “On Measures regarding Stimulating of Foreign Trade Activities” No.3533 cancelling import surcharge starting from 1 January 2016.
Just to remind: the import surcharge is levied starting from 26 February 2015. It was imposed by Ukraine according to the Article XII of the General Agreement on the Tariffs and Tradefor the purpose of stabilization of the balance of payments of Ukraine.
The objects of the surcharge are the imported goods irrespective of their origin at the following rates:
- 10 per cent for food products (classified in groups 1-24 of the Ukrainian Classification of Goods for Foreign Economic Activity (the “UCGFEA”);
- 5 per cent for non-food products (classified in groups 25-97 of the UCGFEA);
- 10 per cent for goods that are charged with import duties in accordance with Article 374 of the Customs Code of Ukraine (goods that are imported by private persons into the territory of Ukraine).
