The Verkhovna Rada, Ukraine's parliament, has postponed the cancellation of value-added tax (VAT) refunds from the national budget for rapeseed exports until January 1, 2020, and for soybeans exports until September 1, 2018.
Ukrainian First Deputy Minister of Agrarian Policy and Food Maksym Martyniuk says Ukraine's government opposes the introduction of amendments to the Tax Code of Ukraine, which will cancel value-added tax (VAT) refunds for exports of rapeseed, soybeans and sunflower seeds as of March 1, 2018.
Ukrainian farmers exported oilseeds worth US$1.3 billion in January-September 2017, according to the UkrAgroConsult agency referring to the Institute of Agrarian Economics.
Ukrainian agribusinesses have exported 1.6 million tonnes of oilseeds since the start of the 2017-2018 marketing year (MY, July 2017 – June 2018), which was almost 1.9 times up year-over-year (y-o-y), according to the Ukrainian State Food Safety and Consumer Protection Service.
Ukrainian agrarians exported 1.32 million tonnes of oilseeds since July 1, when the new 2017-2018 marketing year began, which is 1.7 times higher than in the same period last year, according to the press service of the State Biosecurity and Consumer Protection Service.