NBU wants to restrict payments in cash for deals with grain to UAH 50,000 - UGA

14:30, 03.09.2015 1 min read

The National Bank of Ukraine (NBU) at a meeting with the Agricultural Policy and Food Ministry of Ukraine and the Ukrainian Grain Association (UGA) has proposed that the limit for cash payments during grain transactions should be cut from UAH 250,000 to UAH 50,000.

"At the meeting in the ministry headed by Volodymyr Lapa I asked if the NBU can introduce restrictions on cash payments. "Yes, we set the restriction of UAH 250,000 and today we're mulling UAH 50,000," the NBU's representatives said," UGA President Volodymyr Klymenko said at a press conference in Kyiv on Thursday.

He said he proposed that the figure is reduced to UAH 25,000. He said that in the near future, it is planned to hold a meeting with the participation of representatives of agricultural associations and Finance Minister Natalie Jaresko where transfer pricing in agriculture and the revoking of the special VAT regime for farmers will be discussed.