Poroshenko has signed laws aimed at supporting domestic aircraft industry

Порошенко подписал законы, направленные на поддержку отечественного самолетостроения

The President of Ukraine Petro Poroshenko signed the document, archival photos

President Petro Poroshenko has signed laws aimed at supporting domestic aircraft industry. About it reported in a press-service of the head of state.

As specify in a press-service, the law “On amendments to the Customs code of Ukraine” and the law “On development of aircraft industry” regarding the support of the aircraft industry” is aimed at the elimination of unequal conditions of deliveries of aircraft of domestic production compared with import of foreign aircraft. The document particularly provides for the abolition of the preferential conditions of import (excluding VAT) on the territory of Ukraine under contracts of operational leasing of foreign aircraft equipped empty weight of the machine exceeding 10 t but not exceeding 30 tonnes and the maximum capacity from 44 to 110 seats.

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In addition, the document also provides for the renewal of preferential mode of import of goods, which are used in the design, manufacture, repair, modification, maintenance of aircraft products for the period prior to 1 January 2025 and complement the list of such goods.

In addition, the head of state signed the law “On amendments to section 20 “Transitional provisions” of the Tax code of Ukraine concerning the support of aircraft industry”.

The law includes the subjects of aircraft, subject to the norms of article 2 of the law of Ukraine “On development of aircraft industry”, tax incentives to establish full scale production of the modern domestic aircraft and to improve the financial situation taking into account medium-term development, training and equipment of serial production of new aircraft.

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The document provides that temporarily, until 1 January 2015, shall be exempt from value added tax for transactions on import on customs territory of Ukraine under the customs regime of import of goods (except excisable) that are used for the needs of the aircraft industry, and the supply in the customs territory of Ukraine of results of research and development work performed for the needs of the aircraft industry. Also for the specified period are exempt from profits tax and land tax the subjects of aircraft that develop and/or manufacture with the ultimate compilation of aircraft and engines (except for land plots on which there are objects of social, commercial, agricultural and non-industrial construction).

According to the Law, released funds (amounts of tax not paid to the budget and remain at the disposal of the taxpayer) are used for research and development work in Aeronautics, the creation or upgrading of material-technical base, increase of production, introduction of new technologies.

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