Rada mulls cancelling VAT on Ukrainian film production

15:53, 22.06.2017 1 min read

The Verkhovna Rada of Ukraine has passed in its first reading draft law No. 3238-d on amending Ukraine's Tax Code regarding state support for cinematography in Ukraine.

The Kyiv-based Interfax-Ukraine news agency reports from the Rada that 249 lawmakers voted during Thursday's plenary session in favor of the measure.

Authors of the bill propose lifting value-added-tax on operations involving the production of national films, as defined in Ukraine's law on cinematography, as well as granting tax-free labor and services, through January 1, 2023.

Transitional statutes in the Tax Code provide VAT-free status through January 1, 2016.

In addition, the draft law suggests VAT-free status through January 1, 2023 for film showings, as well as the distribution of national and international films, which are dubbed into the state language in Ukraine.