The Cabinet of Ministers of Ukraine has decided to change the rules/procedures for the export of agricultural products; the government plans to publish the corresponding government resolution this Monday, the press service of the Ukrainian Grain Association (UGA) has reported.

"The coordination council under the Ministry of Agrarian Policy and Food decided to work out the details of the updated export procedure within 10 days, which will include combating the shadow market and non-return of foreign currency earnings to the country," the UGA said.

According to the innovations that the government plans to introduce, companies engaged in the export of agricultural products will need to register in the State Agrarian Register. Verification in the State Agrarian Register will occur if there is a certificate of the taxpayer as of February 23, 2022 and now. Companies also need to avoid overdue returns of foreign currency earnings. Otherwise, the exporter will have to obtain a license to export agricultural products.

Another innovation will be a change in the procedure for returning VAT to exporters, which will occur only after the return of foreign currency earnings by the exporter. The revenue return period has been reduced from 180 to 90 days. In addition, the National Bank of Ukraine will prohibit the closure of accounts to remove currency controls.