18 May 2022 15:58

NBU supports reinstatement of taxation of imports - NBU deputy governor

KYIV. May 18 (Interfax-Ukraine) - The National Bank of Ukraine (NBU) supports the idea to reinstate the taxation of imports, as the list of critical imports can now be financed, NBU Deputy Governor Serhiy Nikolaichuk said.

"At the present time, we assume that the current list of critical imports can be financed. At the same time, we believe the import taxes that have been canceled after February 24 need to be reinstated," Nikolaichuk told journalists in Kyiv on Wednesday.

After reinstating the taxation of imports, it might make sense to consider introducing special duties for expanding the list of non-critical imports while lifting the ban on forex purchase and cross-border transfers for purchasing these non-critical imports, Nikolaichuk said.

"We had such an experience in 2014, and I am sure it wouldn't be very hard to explain the reasonability of this mechanism at the World Trade Organization now," he said.

As reported earlier, the Ukrainian government issued directive No. 153 on February 24 to designate a list of critical imports for the purchase of which the NBU allowed buying forex. Since then, the NBU has amended this list more than ten times.

The Verkhovna Rada in March exempted goods imported to Ukraine from import duties and VAT for grade 1 to 3 unified tax payers who pay a 2% sales tax and simplified the customs clearance procedures themselves. Soon afterwards, the Rada registered a number of bills envisioning, inter alia, the reinstatement of import taxation. However, their consideration has been postponed now.