The Verkhovna Rada adopted the Law “On Amendments to Chapter XX” of the transitional provisions of the Tax Code of Ukraine on the Peculiarities of Taxation of Business Entities Implementing Investment Projects with Significant Investments”, which provided tax privileges to such investors.

According to a Ukrinform correspondent, 246 people’s deputies voted for the decision.

The draft law № 3761 supplements paragraph 76 of subsection 2 of Chapter 20 of the Tax Code, which temporarily, until January 1, 2035, exempts from value added tax transactions on importation into the customs territory of Ukraine in the customs regime of import of new equipment (equipment) and components to it , defined in subparagraph 15 of paragraph 4 of Section XXI “Final and Transitional Provisions” of the Customs Code of Ukraine, imported by a taxpayer - an investor with significant investments exclusively for the implementation of an investment project with significant investments to implement a special investment agreement.

Exemption from VAT is carried out within the limits of unused at the time of customs clearance of goods of the total amount of state support and at the time of implementation of the relevant investment project.

The provisions of this paragraph shall not apply to goods originating in a country recognized by the occupying state in accordance with the law of Ukraine and / or recognized by the aggressor state in respect of Ukraine in accordance with the law, or imported from the territory of the occupying State (aggressor) and / or occupied. territory of Ukraine, defined as such in accordance with the law of Ukraine.

In addition, by 2035 year, the deputies  have allowed the establishment of land tax privileges for investors with significant investments. This privilege is taken into account in the total amount of state support.

Deputies also supported as a separate law related to it the draft law №3762 “On Amendments to Chapter XXI “Final and Transitional Provisions” by 256 votes, of the Customs Code of Ukraine, which amended the Customs Code in connection with the adoption of the previous law.

According to the law, an investment project with significant investments provides  the creation of at least 80 new jobs with an average salary of employees, the amount of which is at least 15 percent higher than the average salary for the relevant activity in the region where the project is implemented. for the previous calendar year. The amount of investment in such a project exceeds the equivalent of 20 million euros. The term of implementation of an investment project with significant investments does not exceed five years.

The total amount of state support for the implementation of an investment project with significant investments is set in a special investment agreement and should not exceed 30 percent of the planned amount of significant investments in an investment project.

Reference source: Укрінформ