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A step toward the "customs visa-free regime": the parliament passed the necessary law

The Verkhovna Rada passed the law on the “customs visa-free regime”. Photo: pravda.com

The Verkhovna Rada passed the law on the “customs visa-free regime”. Photo: pravda.com

On Monday, August 15, the Verkhovna Rada of Ukraine passed the law that introduces changes necessary for the "customs visa-free regime" with the European Union. Yaroslav Zhelezniak, deputy head of the Parliamentary Committee for Tax and Customs Policy wrote about it on his Telegram channel.

The law in question is No. 7420. It provides for Ukraine to become a participant in the New Computerized Transit System (NCTS) in order to join the Convention on a Common Transit Procedure.

The "customs visa-free regime" implies:

  • the transportation of goods between 36 countries (the EU member states, the U.K., Turkey, Serbia, North Macedonia, Iceland, Norway, Lichtenstein, and Switzerland) under a single transit declaration and a single guarantee;
  • authorized consignors and consignees having the right to send or receive goods without presenting them to customs;
  • Ukrainian financial guarantees being valid in 35 countries.

The Ukrainian government intends to launch the international use of the Convention by the end of the year. As for the "customs visa-free regime", it is planned to be signed this summer.

Meanwhile, the Cabinet of Ministers of Ukraine is working on a draft law on a 10% fee on foreign exchange operations for the purchase of imported goods.

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