Business calls on a new customs tariff bill to be launched

05/ 02/ 2020

For more than 3 years, the business community has been waiting for the adoption of the Customs Tariff Bill. Today, on February 5, a regular discussion was held at the Verkhovna Rada Committee on Finance, Tax and Customs Policy, in which representatives of the European Business Association also took part. Thus, at the meeting it was recommended to adopt the bill on customs tariff. To understand, the necessity of adopting the bill is substantiated, first of all, by the need to bring the legislative base of Ukraine in line with the system of generally recognized norms of international law, in particular, by introducing the Customs Tariff, which is based on a new version of the Ukrainian Classification of Goods of Foreign Economic Activities (UCTED) of Ukraine within the WTO. At the same time, there are only a few countries in the world that have not yet transitioned to the 2017 standard and are now preparing for the next update to the 2022 standard in the world community. Therefore, Ukraine should also speed up the process of transition to the new coding of goods, otherwise the backlog will hamper the development of foreign economic activity and trade – as while crossing the border, there may be delays because of inconsistency of the coding of goods. The European Business Association supports the adoption of the draft Law on Customs Tariff and expect that the document will be adopted in the near future.

For more than 3 years, the business community has been waiting for the adoption of the Customs Tariff Bill.

Today, on February 5, a regular discussion was held at the Verkhovna Rada Committee on Finance, Tax and Customs Policy, in which representatives of the European Business Association also took part. Thus, at the meeting it was recommended to adopt the bill on customs tariff.

To understand, the necessity of adopting the bill is substantiated, first of all, by the need to bring the legislative base of Ukraine in line with the system of generally recognized norms of international law, in particular, by introducing the Customs Tariff, which is based on a new version of the Ukrainian Classification of Goods of Foreign Economic Activities (UCTED) of Ukraine within the WTO.

At the same time, there are only a few countries in the world that have not yet transitioned to the 2017 standard and are now preparing for the next update to the 2022 standard in the world community. Therefore, Ukraine should also speed up the process of transition to the new coding of goods, otherwise the backlog will hamper the development of foreign economic activity and trade – as while crossing the border, there may be delays because of inconsistency of the coding of goods.

The European Business Association supports the adoption of the draft Law on Customs Tariff and expect that the document will be adopted in the near future.