Law on guarantees of return of foreign exchange earnings for grain exports enters into force in Ukraine

Law on guarantees of return of foreign exchange earnings for grain exports enters into force in Ukraine

During the martial law/emergency situation, the Cabinet of Ministers has the right to introduce an export security regime for exports of wheat, barley, corn, etc.

Law on guarantees of return of foreign exchange earnings for grain exports enters into force in Ukraine

On March 4, the Law of Ukraine 2881-IX on guarantees of return of foreign exchange earnings for grain exports comes into force. 

Thus, for the period of martial law or a state of emergency, the Cabinet of Ministers has the right to introduce an export security regime for the export of wheat, barley, corn, soybeans, rapeseed, sunflower seeds, sunflower oil, and cake.

It is worth noting that exports of goods subject to the export security regime may only be carried out by VAT payers whose registration is not suspended. In addition, the exporter must have a positive history of repatriation of foreign currency earnings in the previous six months (ΣLimit indicator and no violations of currency legislation). 

In the absence of a positive history, or if the limit is exceeded (calculated as 1/3 of the value of goods exported in the previous 6 months, according to customs declarations under which the exporter received payment for the goods in full), a tax invoice is registered before the goods are exported, then a customs declaration, and only then the export itself.

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