This year’s October (2011) seems to be full of pleasant surprises for Ukrainian cereals exporters.
The Law No 3906-VI of 7 October 2011 (in effect from 22 October 2011) abolished the export duty on wheat and corn; there remains, however, the export duty on barley.
Nonetheless, captured by the desire to protect domestic agricultural producers, the Ukrainian Parliament did stop at this and on 20 October 2011 recommenced a VAT zero rate on cereal exports by means of the Law on amendments to the Tax Code of Ukraine relating to the simplified taxation system (the draft law No 8521).
If the latter law is signed by the President of Ukraine, cereal exporters will qualify for VAT refund out of the VAT paid to the cereal suppliers, which they were deprived of with the passage of the Tax Code of Ukraine.
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