President of Ukraine Petro Poroshenko has signed Law of Ukraine No. 332-VIII On Amendments to the Tax Code of Ukraine introsducng tax exemption for some drugs and medical products, RBK-Ukraine (РБК-Україна) reports.
"Returned with the President’s signature (05/05/2015)", the status of the document says.
The law envisages exemption from value added tax levied on imports of drugs and medical products to Ukraine, it is applicable to the first batch of medicines or medical products delivered by an importer or manufacturer to the customs territory of Ukraine.
The law also stipulates budget programs in the framework of which the Ministry of Healthcare enters into agreement with procurement organizations indicated in the list as set out in the Law of Ukraine On Public Procurement, enabling conclusion of contracts for import of drugs and medical products to Ukraine or their acquisition in Ukraine.
The law stipulates the liability of taxpayers in case of non-intended use of tax reliefs for drugs and medical products, along with the provision entered by the Cabinet of Ministers of Ukraine specifying medicines and medical products bought under purchase agreements by procurement organizations, in line with the requirements for import, delivery and intended use of medicines, medical products that are VAT exempted.
