On 24 February 2015 following the completion of the consultations with international finance organizations, the Law of Ukraine “On Activities regarding Stabilization of the Balance of Payments of Ukraine according to Article XII of the General Agreement on Tariffs and Trade as of 1994” (the “Law”) became effective.

The Law introduces additional import duties to be applicable for a period of 12 months with respect to importation of goods (a) with a customs value exceeding EUR 150 imported by legal entities or (b) imported in volumes subject to duties according to the Customs Code of Ukraine and Tax Code of Ukraine.
The duties shall be imposed based on the customs value of the goods imported into Ukraine regardless of the country of origin and effective free trade agreements of Ukraine and shall constitute 5% or 10% of such value depending on their classification.

The following essential goods shall inter alia be exempt from the additional import duty:

  1. oil, natural gas, power cells (fuel units), electricity, coal, petrol, fuel oil and diesel fuel oil;
  2. medical goods for carrying out haemodialysis or providing treatment to oncologic patients and certain other pharmaceuticals;
  3. goods provided to Ukraine on a free of charge basis by other countries or international organisations under international (intergovernmental) treaties;
  4. Ukrainian and foreign currency, securities and banking metals;
  5. technical equipment to be used by intelligence authorities of Ukraine and defence products;
  6. certain other goods exempt from import duties under the Customs Code of Ukraine.

Law: Law of Ukraine No. 73-VIII “On Activities regarding Stabilisation of the Balance of Payments of Ukraine according to article XII of the General Agreement on Tariffs and Trade as of 1994” dated 28.12.2014.