Ukraine has abolished VAT on import of electric vehicles
Ukraine is not going to charge VAT and the excise duty from electric vehicle suppliers in the next five years. The Verkhovna Rada of Ukraine has made the appropriate amendments to the Tax Code last week.
Such a measure will significantly stimulate the Ukrainian economy and serve as a key to solving the environmental problems of our state. Many experts share this opinion with Artem Kovbel, Partner of Kreston GCG, among them.
Over the last few years, Artem has repeatedly supported abolishing VAT on electric cars. He also ran an active public work in this direction by taking part in many specialised events. One of the largest round tables in this area was held last year in June at the Verkhovna Rada Committee.
Updated: Later, the Verkhovna Rada reconsidered their decision. On the same day, as the budget estimate for 2018 was reviewed, MP Artur Gerasimov proposed to shorten the term of the preferential terms to one year. Verkhovna Rada approved this proposal. This way, electric vehicle suppliers will not pay VAT and excise duty in 2018 only.