Ukrainian government is considering cut on tax preferences for agricultural businesses
2013-04-03 15:49:48
According to the official information released by Ukrainian government currently there is a discussion going on regarding cutting currently existing tax preferences for agricultural producers in Ukraine. According to Income and Tax Minister Oleksandr Klymenko local farmers will have to pay 7% value added tax, at least the Ministry is currently considering such scenario as an option. Such option would lead to even further increase of prices for agricultural commodities and food as the result.
AgroInvest comment: It is not certain whether the law that results in cancelation of tax preferences is passed in its current form, yet we believe that there is a high probability of it occurring due to growing Ukrainian debt, especially in the beginning of 2013.