Clarification on import duty has been issued by the State
Customs Service of Ukraine.
Contributions in kind by foreign investors to the charter
capital of a Ukrainian company are exempt from import customs duty
(except for goods intended for sale or personal consumption).
However, duty becomes payable if the goods are sold or
transferred within 3 years of importation. The clarification states
that liability for the import duty is triggered if, during the
3-year period, the foreign investor transfers his shares in the
company, just as when he transfers the goods contributed in
kind.
On a more welcome note, the clarification states that liability
to pay the import duty is not triggered by loss of status as a
company with foreign investment within the 3-year period.
