Rada intends to exempt imports of defense products from VAT

16:11, 11.02.2015 1 min read

The Verkhovna Rada of Ukraine intends to exempt imported defense products from value added tax.

According to an Interfax-Ukraine correspondent, MPs included the appropriate changes (at first reading) in Article 197 of the Tax Code and Article 287 of the Customs Code.

According to an explanatory note to the bill, these changes create favorable conditions for the fulfillment of contracts and agreements of the state defense order.

The parliament intends to exempt transactions on the importation of components which are to be used in the manufacture of defense products from VAT.