20:20 13.12.2023

Hetmantsev initiates new law on state regulation of excisable products

2 min read
Hetmantsev initiates new law on state regulation of excisable products

The head of the parliamentary committee on finance, taxation and customs policy, Danylo Hetmantsev, together with his colleagues, registers a new bill on state regulation of production and circulation of ethyl alcohol, alcohol distillates, bioethanol, alcoholic beverages, tobacco products, tobacco raw materials, liquids used in electronic cigarettes and fuel.

"Current law No. 481 was adopted in 1995 and for almost 30 years of its validity clearly needed significant updating," Hetmantsev explained on Telegram the need for a new law.

According to him, the document will create an improved legislative framework for regulating production, import and export of excisable products and eliminate archaisms.

Hetmantsev noted that the bill would also simplify the procedure for obtaining licenses and propose a transition to an electronic form instead of a paper form of licenses, introduce perpetual licenses for all types of economic activities subject to licensing, and improve the structure and procedure for administering state registers.

"In order to prevent illegal production of tobacco products, licensing of activities for growing tobacco and fermenting tobacco raw materials is being introduced," the head of the committee named another innovation.

He added that the bill involves revising the cost of licenses and the amount of fines for violating requirements, linked to the size of the minimum wage.

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