Tax On Parcels Worth Up To EUR 150: Parliament Takes First Step

(MENAFN- UkrinForm) That is according to the Ministry of Finance of Ukraine, Ukrinform reports.

The ministry noted that the bills amending the Tax Code (No. 16051-1) and the Customs Code (No. 15460) are interrelated and together establish the legal framework for introducing modern e-commerce taxation rules in Ukraine that are aligned with the European Union's approach.

"This is an extremely important decision that demonstrates to our international partners Ukraine's readiness to change and implement modern European standards. [...] The next step is to thoroughly refine the bills for the second reading," Ukrainian Finance Minister Sergii Marchenko said.

He stressed that timely adoption of the final decision by parliament would finally eliminate the unfairness toward law-abiding businesses and bring Ukraine closer to receiving about EUR 4 billion in international financial support for the state budget.

The Finance Ministry recalled that the adopted amendments provide for abolishing the VAT exemption for imported goods purchased through marketplaces, which will create a level playing field for Ukrainian and foreign businesses.

The reform is also part of Ukraine's cooperation program with the International Monetary Fund under the EFF program and a condition for the European Union's macro-financial assistance.

The bills provide for:

• introducing special taxation rules for the distance sale of goods through marketplaces when their total invoice value does not exceed EUR 150;
• imposing VAT on the import of goods in international postal and express shipments from EUR 0;
• exempting non-commercial parcels worth up to EUR 45 from VAT, in line with the EU approach.

A list of goods for military personnel will also be introduced that will be exempt from VAT on the import of goods in international postal and express shipments.

As reported, the Verkhovna Rada had previously rejected twice bills that would abolish the tax exemption and introduce VAT on international parcels worth up to EUR 150.

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