14:19 03.11.2016

Rada passes bill removing administrative barriers exporting services

Ukraine's Verkhovna Rada has passed a bill amending some Ukrainian laws removing administrative barriers for exports of services (No. 4496).

The bill was passed at second reading by 270 lawmakers on Thursday.

Before voting Chairman of the parliamentary committee for industrial policy and entrepreneurship Viktor Halasiuk said that bill No. 4496 removes artificial administrative barriers for sending currency income by exporters of services to Ukraine.

"The bill would help to develop Ukrainian IT industry, creative industries and all who provides intellectual services thanks to liquidation of that artificial currency control that does not work today in this sphere and only creates regulatory barriers," he said.

Earlier the National Bank of Ukraine (NBU) said that the adoption of the bill would help to curb administrative barriers during signing of foreign economic contracts, sending currency income and keeping accounting and financial records.

The signing of foreign economic contracts would be possible not only in the written form, but also in the electronic form. The bill will ban banks from demanding translation of documents into Ukrainian if they are drafted in English. The invoice will be declared the primary document and could be signed personally, using the analog of the personal signature, the electronic signature or electronic digital signature.

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