Government portal
Official website
  1. Home
  2. News
  3. Oleksii Chernyshov: Verkhovna Rada supports bills providing fiscal incentives for industrial parks

Oleksii Chernyshov: Verkhovna Rada supports bills providing fiscal incentives for industrial parks

Ministry for Communities and Territories Development of Ukraine, posted 16 December 2021 15:13

The Verkhovna Rada of Ukraine adopted in the first reading two bills №5688 and №5689, which provide for a number of fiscal incentives for investors in industrial parks (IP). In particular, it is a question of exemption from the income tax of IP residents for 10 years on condition of its reinvestment in the development of the investment project. Minister for Communities and Territories Development Oleksii Chernyshov told.

"Fiscal incentives are one of the key motivators that the state can offer to attract investment in industrial parks. The proposed changes to the Tax and Customs Codes will help attract foreign investment. As a result, new businesses and jobs will appear in the regions. And when jobs come in abundance, that's real adulthood. Maturity for every community. We are moving towards strengthening the economy both in each particular region and in the country as a whole," said Minister Oleksii Chernyshov.

Bill № 5688 provides for amendments to the Tax Code of Ukraine. In particular, the document envisages:

• exemption from personal income tax for 10 years for its reinvestment in the development of an investment project;

• exemption from VAT of new equipment (equipment) for personal use;

• establishment of real estate tax benefits by decision of local governments;

• setting the rate of land tax and rent for state and communal lands in the amount less than the land tax (by decision of local governments);

• exemption from land tax (by decision of local governments).

At the same time, Bill № 5689 amends the Customs Code of Ukraine - a document designed to exempt from duty new equipment (equipment) imported by participants of industrial parks for their personal use.

It should be noted that in early October this year, President of Ukraine Volodymyr Zelenskyy signed a law amending the Law "On Industrial Parks" (№4416-1). The document introduces financial, infrastructural and institutional incentives.

As was reported earlier the Minister for Communities and Territories Development Oleksii Chernyshov reported that a network of 25 industrial parks in Ukraine will create more than 50,000 workplaces.

Print version