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The President vetoed Draft Law №1049

19/ 02/ 2020

The European Business Association welcomes the President’s compliance with reached arrangements to veto Draft Law №1049 to repeal an amendment regarding the price regulation for tobacco products.

So, today, February 19, Draft Law №1049 on amendments to some laws related to the introduction of unified payments of taxes and fees, and a unified social tax was vetoed.

It is worth reminding that the community did not support the provision on setting the trade margin on cigarettes for wholesale and retail trade of 7% and 13% of the maximum retail price (MRP), respectively, and manufacturers are obliged to sell cigarettes to distributors at a price not higher than 80% of the MRP.

Currently, the Draft Law will be forwarded to Verkhovna Rada of Ukraine for revision.

Therefore, we hope that the provision on the tobacco industry (clause 2 Chapter II Final and Transitional Provisions) will be amended. At the same time, we do not expect new radical propositions to the draft, as overall the business considers this Draft Law to be progressive, except for the norm on price regulation for tobacco products.

 

 

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