President of Ukraine calling to abolish “soybean amendments”

Ukraine’s President Volodymyr Zelensky called on the Government and the Verkhovna Rada of Ukraine to ensure the approval of the law on the support for the national agricultural producer and abolish the so-called soybeans amendments immediately, reports the Presidential Office.

According to small and medium-sized growers, due to the abolition of VAT refund on soybean and rapeseed exports, the opportunity to export these crops and receive budgetary VAT refund is lost. Farmers with an area of ​​land of up to 1 Th ha cannot form an export batch of soybeans and rapeseed, thus, they are forced to sell products to processors on disadvantageous terms, losing 20-25% on each ton of the produced commodity.

The Verkhovna Rada has registered bill No. 2446 “On Amendments to the Tax Code of Ukraine on Certain Issues of Value Added Tax for Oilseed Exports Outside the Customs Territory of Ukraine". The document provides support for domestic agricultural products, including soybeans and rapeseed.