Ukraine: VAT refund mechanism to grain exporters needs updating at the legislative level
The mechanism for the VAT recovery to grain exporters requires additional settlement at the legislative level, declared Vladimir Klimenko, President of Ukrainian Grain Association, on June 17 in Odessa during his speech at the conference "Grain Forum - 2014".
According to him, the procedure of VAT refund to grain exporters has to be recovered, but not in the same view as it was before. If the Government finds the required funds for the reporting purpose, the VAT refund on grain exports should be registered as a separate item in the budget. And the Tax Code of Ukraine should legally fix that the VAT to be returned to the exporter for no more than two months, said V.Klimenko.
Also, the President of Ukrainian Grain Association stressed that during recent years in Ukraine there were completely destroyed thousands of grain exporters, and even more did not become exporters at all, due to non-refund of the VAT.
But according to Ihor Shvaika, Minister of Agrarian Policy and Food of Ukraine, the VAT refund is within the competence of the Ministry of Finance. The Minister expressed readiness of the department jointly with market participants to consider improvement of the mechanism of VAT refund to grain exporters, and apply the accumulated proposals to the Ministry of Finance.
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