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Businesses to Import Raw Materials for Processing under Simplified Monitoring Procedure

27 December 2018

Press Release

 

In order to improve business climate in Ukraine, the National Bank of Ukraine (NBU) has extended the list of types of customs declarations that banks use when making decisions to discontinue monitoring of import operations of residents. This concerns, in particular, import operations of foreign trade agents when importing the goods that will be processed, which will create the value added for Ukraine.

 

Banks will discontinue the monitoring of such operations upon receiving the relevant information from the register of the ІМ-51 customs declarations (“Inward processing”.) Such decision has been taken by the NBU after it has received numerous requests from businesses and conducted several consultations with the participation of the Ministry of Finance of Ukraine and the State Fiscal Service of Ukraine.

 

As delayed data entries in the register of customs declarations may occur at the first stage following the effective date of the NBU decision, monitoring of such operations may also be discontinued on the grounds of a message from a customs authority with the certified copy of a customs declaration.

 

The said amendments were approved by NBU Board Resolution No. 158 On Amendments to the Procedure for Monitoring Export and Import Operations dated 27 December 2018.

 

The Procedure for Monitoring Export and Import Operations will be effective until the Law of Ukraine On Currency and Currency Operations takes effect, that is, until 7 February 2019. At the same time, the said simplification will continue to be effective after the NBU regulations take effect that will establish the new liberal FX regulation system.

 

 


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Last modification   27.12.2018