EBA is for the VAT refund

According to the opinion of EBA, the VAT refund on export of such oilseeds as sunflower, soybean and rape must be reintroduced.

Such data is provided by the European Business Association.

Analysts of the EBA on oilseeds believe that such an immediate introduction of the new legislation will entail a significant reduction in prices for the purchase of soybeans, rapeseed and sunflower in domestic markets, which in turn will lead to a reduction in manufacturers’ profits.

Also, according to EBA reports, manufacturers of such oilseeds will have unequal conditions compared to the manufacturers of other crops, as they will no longer have the right to get support from the government.

Representatives of the EBA also believe that the change in prices of the purchase will amount to the VAT sum.

The bill implies the use of such measures, equal to the export duty on oilseeds, which in turn can have a negative impact on Ukraine’s competitiveness abroad and significantly reduce the amount of currency in the country. If such changes are implemented, the agrarian sector will incur substantial losses in one of the most difficult times for it.

The EBA believes that the government’s policy in the agricultural sector should be carefully thought out and subsequently directed to the future development.