Ukraine establishes temporary peculiarities of determining the customs value of certain groups of goods exported outside the country

On January 12, 2023, the parliament of Ukraine adopted as a basis the Draft Law of Ukraine on Amendments to Chapter XXI “Final and Transitional Provisions” of the Customs Code of Ukraine regarding the establishment of temporary peculiarities for determining the customs value of goods exported outside the customs territory of Ukraine dated 09.12.2022 №8274.

The specified Draft Law is designed to establish temporary peculiarities regarding the determination of the customs value of goods exported under the customs regime of export outside the customs territory of Ukraine, which are objects of trade on international commodity exchanges and have ad valorem rates of export duty during the period of martial law and one year from the date of termination or cancellation of martial law.

Therefore, it is proposed to set the customs value of the above-mentioned goods at the price of the goods specified in the invoice or proforma invoice, so that it is not lower than the price of the goods, determined on the basis of monthly monitoring of prices on international commodity exchanges. In the future, the Cabinet of Ministers of Ukraine is expected to adopt an Order that will regulate the mechanism for monitoring and using prices on global commodity exchanges. Until recently, the basis of taxation for these goods was their customs value. 

Since the current edition of the Customs Code of Ukraine does not allow customs authorities to compare the specified customs value of export goods with the prices set for such goods on world exchanges, it is expected that the adoption of this Draft Law will significantly increase the income from export duties to the State Budget of Ukraine.

Our team continues to monitor changes in customs and tax legislation during wartime and inform you about it.