Economy

Rada exempts Ukrainian electric cars from VAT, excise duties in 2018, annuls VAT benefit for electric car taxis, leasing of electric cars

Ukraine's Verkhovna Rada has introduced temporary benefits, exempting Ukrainian-manufactured electric cars from paying VAT and excise duty in 2018, while benefits for services of electric car taxis, leasing of electric cars have been annulled.

A total of 274 lawmakers backed the amendments to bill No. 6776-d amending the Tax Code of Ukraine.

As reported, on December 8, 2017, Rada amended the Tax Code. According to the amendments, imports of electric cars to Ukraine are exempted from paying VAT and excise duty in 2018.

In addition, operations for the provision of passenger transportation services for taxis equipped only with an electric motor (one or several), as well as the provision of passenger electric vehicles for rent (leasing, rental, transportation on request) were exempted from paying VAT.

Earlier it was reported that the import of electric vehicles from 2016 was exempted from import duty, and the market operators were expecting the abolition of VAT and excise duty.

Hong Kong Bio Automotivе in 2015 showed its interest in the creation of assembly of electric cars in Ukraine with gradual switch to сomplete knock down production.

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