Ukraine finally canceled the "soy amendments" — Ministry for Development of Economy




The President of Ukraine, Volodymyr Zelenskyy signed the draft law #1210 on amendments to the Tax Code, which the Verkhovna Rada adopted on January 16, 2020, which also provides cancellation of so-called "soy amendments", declared the Deputy Minister for Development of Economy, Trade and Agriculture, Taras Vysotskyi, on May 21.

According to him, for almost 2.5 years the market participants continued actively fighting against the "soy amendments", which canceled the VAT refunds for soybeans and rapeseed since September 1, 2018, to December 31, 2021; rapeseed — from January 1, 2020, to December 31, 2021. As a result, every year the Ukrainian small- and medium-scale agricultural businesses lost hundreds of hryvnia for each tonne of sold soybeans.

As a reminder, in December 2019 V.Zelenskyy appealed to the Government and Parliament to adopt the draft law on supporting of Ukrainian agricultural producers and cancellation of the "soy amendments".