The Government approved the draft Law “On Amendments to Section XI of the Customs Tariff of Ukraine on Unification of Import Duty Rates on Light Industry Goods” developed by the Ministry of Finance together with the State Customs Service and the line association Ukrlegprom.
The bill provides for the revision (unification) of import duty rates on light industry goods to accelerate the customs clearance of such goods and promote the development of light industry.
Under the new version of groups 50 - 59 of the Customs Tariff of Ukraine, established by the Law of Ukraine of 04.06.2020 № № 674-IX, the following is proposed:
- set preferential import duty rates of 0% on raw materials not produced in Ukraine - yarn, fibers, threads;
- to set preferential rates of import duty at a rate of 1% to 8% for finished products - fabrics, felt, woven nets, twine and ropes;
- to increase the full rates of import duty to 10% on light industry goods in those product subcategories where such rates are less than 10%.
According to Ukrlegprom, the revision (unification) of import duty rates will facilitate an increase in the import of textile raw materials and materials for processing into the customs territory of Ukraine.
If the Verkhovna Rada adopts the bill, such changes in the Customs Tariff will facilitate the simplification of foreign economic activity by domestic business, and in the near future - the possibility of accelerating the development of light industry in Ukraine, thereby allowing to meet the needs of domestic and foreign consumers. .
The bill has passed all necessary approvals, including the Ministry of Economic Development, Trade and Agriculture and the Ministry of Justice.