Entered into force the law on Naftogaz unbundling

Вступил в силу закон об анбандлинге Нафтогаза

Changes to the Tax code exempt from VAT a number of operations to be unbundling Naftogaz of Ukraine.

The law on amendments to the Tax code to unbundling Naftogaz of Ukraine entered into force. The document was published yesterday in the newspaper Voice of Ukraine and came into force on Wednesday, December 11.

To the obligations of the branch of the operator GTS provides up to 2021 to be exempt from VAT transfers from the balance of the payer of tax on the balance sheet of another entity of the property which is in state ownership as part of the main pipelines, and all facilities and structures related to a single technological process.

According to the law, until 2022 delayed the installation of the cash method of determining the date of emergence of tax liabilities and tax credit transactions for the supply/purchase of property which is not state-owned, as part of the main pipelines, and all facilities and structures.

The document also stipulates that by 2021 is the exception from the definition of supply of goods – operation with the delivery (transmission) and the return under the loan agreement of natural gas used for maintenance activities for natural gas transportation by main pipelines, if these operations are conducted to separate the operator GTS.

We will remind, on 31 October, the Verkhovna Rada voted in the second reading the law on unbundling Naftogaz. This will allow Naftogaz to work according to European rules and to appeal to our European partners, on a joint negotiating position.

The Verkhovna Rada at a meeting on Friday, November 15, made 14 pages of amendments to the bill and approved it.

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