You're reading: Government approves changes to Customs Code in part of industrial parks development

The government on January 3 approved a bill on amendments to the Customs Code of Ukraine developed by the Economic Development and Trade Ministry regarding the creation and operation of industrial parks, the ministry's press service has reported.

“The main purpose of the bill is to specify the volume of equipment and components, materials to be imported to Ukraine without paying import duty,” reads a statement by the ministry posted on the government’s Web site on Sunday, Jan. 6.

The bill foresees amendments to Article 287 of the Customs Code of Ukraine regarding the need to additionally approve the amount of equipment and components, materials used for the development of industrial parks and the implementation of investment projects within industrial parks.

“The implementation of the draft law will allow to improve the legal regulation of the mechanism of importing equipment to the customs territory of Ukraine, as well as allow to avoid the excess imports of such goods and, consequently, avoid unjustified losses of the national budget,” said the ministry.