You're reading: NBU wants to restrict payments in cash for deals with grain to Hr 50,000

The National Bank of Ukraine (NBU) at a meeting with the Agricultural Policy and Food Ministry of Ukraine and the Ukrainian Grain Association (UGA) has proposed that the limit for cash payments during grain transactions should be cut from Hr 250,000 to Hr 50,000.

“We set the restriction of Hr 250,000 and today we’re mulling Hr 50,000,” the NBU’s representatives said,” UGA President Volodymyr Klymenko said at a press conference in Kyiv on Sept. 3.

He said he proposed that the figure is reduced to Hr 25,000. He said that in the near future, it is planned to hold a meeting with the participation of representatives of agricultural associations and Finance Minister Natalie Jaresko where transfer pricing in agriculture and the revoking of the special VAT regime for farmers will be discussed.