Non-return of foreign currency earnings during exports: The BES has proposed amendments to the legislation

Based on the results of the analysis of the activities and financial and economic operations of business entities engaged in the export of agricultural products, the BES analysts proposed a number of changes to the legislation.

In total, over six months, the BES experts created 76 analytical products on offenses related to the export of agricultural products that affect the economic security of the state, totaling UAH 10.7 billion. Some of them were created at the request of the Bureau's detectives in the framework of criminal proceedings.

Among the biggest threats to the economy in this area, BES analysts highlight the non-return of foreign exchange earnings by agricultural exporters.

In order to eliminate the preconditions that facilitate illegal activities, the BES proposed to the Cabinet of Ministers of Ukraine, the Ministry of Economy of Ukraine and the State Customs Service of Ukraine to initiate

- Enactment of the export security regime provided for in Article 19-1 of the Law of Ukraine "On Foreign Economic Activity";

- to exclude the fourth part of subparagraph 91.2 of paragraph 91 of subsection 2 of section XX "Transitional Provisions" of the Tax Code of Ukraine regarding unconditional registration of tax invoices;

- introduction of state regulation of prices for grain crops by setting minimum export prices for agricultural products classified under the codes according to UKTZED: 1001, 1003, 1005, 1201, 1205, 1206, 1512, 2306, etc.

The above proposals resulted in the adoption of the Law of Ukraine No. 3706-IX dated 09.05.2024 "On Amendments to the Tax Code of Ukraine and Other Laws of Ukraine on the Peculiarities of Export of Certain Types of Goods during the Period of Martial Law", which entered into force on 01.07.2024.

In addition, the Resolution of the Cabinet of Ministers of Ukraine dated August 20, 2024 no. No. 944 approved the Procedure for Approval of Minimum Export Prices for Certain Types of Goods, which defines the mechanism for approving minimum export prices for certain types of goods classified under codes according to UKTZED 0409 00 00 00, 0802 31 00 00, 0802 32 00 00, 1001, 1002, 1003, 1004, 1005, 1201, 1205, 12 06 00, 1507, 1512, 1514, 2306.