Rada mulls cancelling VAT on Ukrainian film production
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.
