<\/p>\n
Representatives of the European Business Association took part in a working meeting with representatives of the Verkhovna Rada of Ukraine Committee on Agrarian and Land Policy<\/strong> to discuss issues related to the excise taxation of alcoholic beverages.<\/p>\n During the meeting, Yurii Andriiv, the Association\u2019s Committee Manager, emphasised the need to establish a mechanism for refunding or crediting excise duty paid on products that have been destroyed, damaged or irretrievably lost due to force majeure circumstances.<\/span><\/p>\n Businesses point out that companies incur financial losses in the form of excise duty paid, even where the relevant products have not been sold or reached the end consumer.<\/p>\n According to information provided by member companies of the Association\u2019s Committee on Wine and Spirits, since the beginning of Russia\u2019s full-scale invasion, excise duty paid on excisable products irretrievably lost as a result of Russia\u2019s military actions has amounted to at least UAH 117.7 million<\/strong>.<\/p>\n By its economic nature, excise duty is an indirect tax on consumption. However, in the absence of a specific mechanism to address product losses, the tax burden effectively remains with the business, even though the goods have not been consumed.<\/p>\n The proposed approach would allow for the refund or crediting of excise duty actually paid on products permanently removed from circulation due to force majeure circumstances. At the same time, the mechanism should include appropriate safeguards against abuse, including documentary evidence of the force majeure circumstances, the quantity of products lost and the amount of excise duty paid.<\/p>\n At the conclusion of the meeting, participants agreed to submit letters setting out their proposals and supported the need for a follow-up meeting.<\/p>\n The Association continues its dialogue with public authorities and supports the development of balanced legislative solutions aimed at removing unjustified financial burdens on compliant businesses.<\/p>\n <\/p>","protected":false},"excerpt":{"rendered":" Representatives of the European Business Association took part in a working meeting with representatives of the Verkhovna Rada of Ukraine Committee on Agrarian and Land Policy to discuss issues related to the excise taxation of alcoholic beverages. During the meeting, Yurii Andriiv, the Association\u2019s Committee Manager, emphasised the need to establish a mechanism for refunding […]<\/p>\n","protected":false},"author":33544,"featured_media":784810,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false},"categories":[4,5,22],"tags":[],"yoast_head":"\n