Farmers will be able to export soybeans, and traders will lose income
Yesterday, the Parliament 249 votes supported the bill number 7403-D, which amends the Tax code regarding the VAT taxation for export of oilseeds.
According to the adopted document, VAT on exports of soybeans in the period 01.09.18-31.12.2021 G., and rape in the period 01.01.2020-31.12.2021 g will be reimbursed only to the agricultural enterprises that independently raised these crops on agricultural lands. However, other exporters will not be able to count on the VAT refund.
This decision will allow the export of soybeans in the new MG and will increase the number of agricultural producers that will do it yourself, but will reduce competition between processors and traders on the domestic market.
Concerns that producers will reduce plantings of soybeans for export restrictions were not justified, and as of may 21, oilseeds planted 1.6 million hectares or 81% of the forecast.
In the current season Ukraine has already exported 2.5 mln tonnes of soybeans, against 2.7 mln tonnes in the previous my.