Revenues from customs clearance of used cars Ukraine soar sixfold in Ukraine

A total of 123,000 cars were imported to Ukraine's customs territory over the 10 months of 2017, while UAH 17.4 billion (US$656 million) in customs payments were channeled to the budget, including 56,000 used vehicles, providing for UAH 4.3 billion ($164 million) in customs payments.

"If earlier on the average about 1,000 cars with mileage were imported per month, then this year, the monthly imports of used car are estimated at almost 6,000 vehicles. Some 7,000 used cars were imported in October this year," the press service says.

Read alsoSales of used cars in Ukraine soar by 4.5 times in ten months As UNIAN reported earlier, the law on reducing excise tax on used car imports came into force in Ukraine on August 1, 2016. The law is valid until December 31, 2018.

In particular, the excise tax on cars with a gasoline engine capacity of up to 1 liter is EUR 0.102 per 1 cubic centimeter, which is almost 90.9% down from the previous rate of EUR 1.094.