Ukraine's parliament cancels VAT on Ukrainian cinematography

UNIAN 2
15:02, 09 November 2017
9

The Verkhovna Rada, Ukraine's parliament, has adopted a number of amendments to the Tax and Customs Codes of Ukraine regarding state support of Ukrainian cinematography, according to an UNIAN correspondent.

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Some 228 lawmakers voted for the adoption of bill No. 3238-d as a whole with the required minimum being 226 votes. The document amends the Tax Code, exempting cinematography entities from the payment of value-added tax (VAT).

The same number of MPs supported the adoption of bill No. 3239 in general to amend the Customs Code related to tax exemption on imports by filmmakers of relevant equipment and components to Ukraine.

Read alsoBloggers spot Ukrainians among Earth delegates in Luc Besson's blockbuster 'Valerian'However, 228 lawmakers voted to send draft law No. 3240 for second reading, as was proposed by the Verkhovna Rada Budget Committee. The bill amends the Budget Code of Ukraine regarding financing of cinematography.

As UNIAN reported earlier, the Verkhovna Rada in March 2017 passed two bills, namely on state support of cinematography in Ukraine and on the Ukrainian Cultural Fund. The draft law on the 2018 national budget envisages UAH 500 million, or US$18.8 million, that will be allocated for the production of 80 films.

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