Ukraine's government has decided to scrap additional import tax as of January 1, 2016 / Photo from UNIAN
Additional import tax rates introduced in February 2015 to improve Ukraine's balance of payments will be lifted as of January 1, 2016, according to Deputy Finance Minister Olena Makeyeva.
"The additional import tax will be lifted from January 1, 2016 – the decision has already been made," she said at a Finance Ministry board meeting on Monday.
As UNIAN reported earlier, in late February the Ukrainian government introduced temporary measures in the form of import tax at a rate of 5% and 10% to stabilize the country's balance of payments.
The tax is not applicable to critical imports, medical supplies, energy resources, particularly natural gas, and other goods essential for the Ukrainian economy and public needs.
The World Trade Organization (WTO) member states have urged Ukraine to cancel the tax no later than at the end of 2015.
Ukraine's State Fiscal Service noted a significant surge in smuggling after the tax had been introduced.
At the same time, a vast majority of WTO members acknowledged that the measures introduced by Ukraine were related to a difficult situation with the balance of payments and were in full compliance with the provisions of the WTO agreements, with Russia being the only WTO member that had not joined the majority.