Rada passes e-commerce law

The Verkhovna Rada of Ukraine has adopted on Thursday, September 3, a draft law on e-commerce providing for legalization of electronic document flow, according to an UNIAN correspondent.

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The buyers' consent to use their personal data can be issued by registering a subject of e-commerce in the information system.

In addition, according to the bill, primary and consolidated accounting documents can be drawn up in both paper and electronic forms, and contracts between buyers and sellers shall be considered valid when concluded online, which will be treated as oral agreement.

At the same time, subjects of e-commerce will not be obliged to apply settlement transactions registrars and settlement books.

The draft law also applies to foreign online stores.

Read alsoUkraine may soon legalize bitcoin - mediaAs UNIAN reported earlier, e-commerce market in Ukraine shrank in 2014 to $1.6 billion, or by 20% year-over-year.

Most Ukrainian Internet stores saw a 15%-30% decline in sales due to the occupation of Crimea and the Russian military aggression in eastern regions of the country.

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