At a meeting on March 2, the Verkhovna in the second reading adopted the draft laws No. 3761 and No. 3762 of President Volodymyr Zelensky on tax and customs benefits that are needed to implement the draft law on state support for investment projects with significant investments, or the so-called investment nannies draft law.
Draft law on amendments to the tax code No. 3761
The draft law №3761 was supported by 246 people's deputies.
It provides for exemption from January 1, 2021 to January 1, 2035 from value-added taxation of importing goods into the customs territory of Ukraine under the import customs regime. The list and volumes of goods will be approved by the Cabinet of Ministers together with the conclusion of a special investment agreement.
«This is not about a 15-year benefit, but about benefits that can be provided during 15 years of this project implementation. Meanwhile, income tax is not more than five years. And all the benefits together are up to 30% of the investment amount».
The Head of the Verkhovna Rada Committee on Finance, Tax and Customs Policy
The law also exempts enterprises-investors with significant investments from corporate income tax. They are released for five years from the date of application, but not earlier than the date of its filing and the date of facility commissioning that was built as part of the investment project.
The law also establishes that until 2035, local authorities can establish for such investors the rates of land tax and rent for land in a smaller amount than the land tax amount.
Draft law No. 3762 on amendments to the Customs Code
The draft law №3762 was supported by 256 people's deputies. In particular, it provides that until January 1, 2015, the equipment imported into the territory of Ukraine during the implementation of an investment project with significant investments is exempted from import duty.
At the same time, such equipment must be new and manufactured no earlier than three years before the date of registration of the investment project. Meanwhile, the list and amount of equipment are determined by the Cabinet of Ministers together with the conclusion of a special investment agreement.
Context. At a meeting on December 17, 2020, the Verkhovna Rada adopted in the second reading the presidential draft law No. 3760 on state support for investment projects with significant investments, or the so-called investment nannies draft law. You can read what it provides at the link.