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ARTICLE · 18 NOVEMBER 2016

Tax And International Trade Update

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Within the framework of its gradual liberalization policy, the CMU introduced certain changes to the applicable legislation related to determination of customs value of imported goods into Ukraine.

GlobalTax
Igor Davydenko
Igor Davydenko
Tetiana Gryn
Tetiana Gryn
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Liberalization of customs valuation procedure

Within the framework of its gradual liberalization policy, the Cabinet of Ministers of Ukraine (CMU) introduced certain changes to the applicable legislation related to determination of customs value of imported goods into Ukraine. The CMU adopted the Resolution of the CMU No. 686 dated 5 October 2016 (Resolution 686) which has abolished the Resolution of the CMU No. 724 dated 16 September 2015 (Resolution 724) that allowed customs authorities (SFS state servants) to compare the declared customs value of the imported goods with the average value for identical (similar) goods, imported by other declarants for the past 6 months and declared under relevant UKTZED code. By abolishing Resolution 724, CMU revoked the power of customs authorities to compare the declared customs value of particular goods/products with average customs value of goods that may significantly differ from the goods imported earlier, by quality,

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