VAT refund on export of soybean, rapeseed and sunflower is canceled
Verkhovna Rada adopted a resolution to cancel the VAT refund when exporting such crops as soybean, rapeseed and sunflower. This decree comes into force on March 1, 2018.
Such information was provided by Interfax-Ukraine.
This change was proposed by the Deputy of Ukraine Vadim Sidorchuk. This proposal was supported in the parliament during the voting for the inclusion the amendments to the Tax Code.
However, deputies connected with the agricultural sector demand to cancel this decision and return the VAT refund when exporting such oilseeds as soybean, rapeseed and sunflower, and also when exporting technical crops.
The report also says that the parliament voted against the abolition of the single tax of the 4th group for manufacturers of poultry products.
Also, it should be recalled that the state budget for 2018 has already been adopted and the government plans to provide funds for the development and support of the agricultural sector in the amount of 6.3 billion UAH.
“3S Company” announces a new situation in the export market of soybean, rapeseed and sunflower seeds. At the beginning of the year, the Russian government decided to cancel the VAT refund on the export of these crops, which caused a negative reaction among entrepreneurs and farmers.
Previously, VAT refunds on exports of soybean, rapeseed and sunflower seeds were a very important incentive to develop the export of these crops, as it reduced production costs and increased competitiveness in world markets.
Today, after the abolition of the VAT refund, the export of soybean, rapeseed and sunflower seeds will become less profitable and will likely lead to a decrease in export volumes and a decrease in the income of companies and farmers.
Despite this, COM3S continues to operate in the export market of soybean, rapeseed and sunflower seeds and is doing everything possible to maintain its position and provide the best conditions for its customers.