Export promotion of SMEs

NECCESARY STEPS

1
Cancel the existing submission of mandatory documents for an entity to be removed from the control procedure

Cancel the submission of a foreign economic agreement (in paper form with the necessary contact details), Acceptance and Delivery Act, translation of documents into Ukrainian, and attachment of signatures and seals to the documents. Consequently, to amend the laws of Ukraine "On Foreign Economic Activity", "On the Procedure for Effectign Payments in Foreign Currency", "On Accounting and Financial Reporting", "On Private International Law." It is necessary to introduce changes to the Instruction on the Procedure for Exercising Control over Export and Import Transactions approved by the Resolution of the Management Board of the National Bank of Ukraine dated March 24, 1999 No. 136

  • Responsible individuals

    Passed the draft Law Law “On Amendments to Certain Legislative Acts of Ukraine (as to Elimination of Administrative Barriers to Export of Services)” No. 4496

    Signed the draft Law Law “On Amendments to Certain Legislative Acts of Ukraine (as to Elimination of Administrative Barriers to Export of Services)” No. 4496

    To ensure alignment of the by-laws to the adopted changes to the draft Law Law “On Amendments to Certain Legislative Acts of Ukraine (as to Elimination of Administrative Barriers to Export of Services)” No. 4496

    To introduce changes to the Instruction on the Procedure for Exercising Control over Export and Import Transactions approved by the Resolution of the Management Board of the National Bank of Ukraine dated March 24, 1999 No. 136

  • Our achievements

    1. Actualized the issue of export of services by collecting the relevant information, conducting express surveys and holding opinion polls as well as a series of meetings with the representatives of the National Bank of Ukraine, business community, freelancers, and the general public.

    2. Set up a Working Group under the National Bank of Ukraine in order to develop the necessary changes to the legislation.

    3. The NBU issued an electronic information note dated June 07, 2015 No. 22-01012 / 46746 "On Exercising Control over the Transactions of Residents who Provide Export Services to Non-Residents through the Internet," which explains to banks and exporters the practical aspects of using invoices for exports of services.

    4. Set up a Working Group under the National Bank of Ukraine and Ministry of Economic Development and Trade of Ukraine in order to develop the necessary changes to the legislation.

    3. Conducted an expert roundtable with the participation of SME representatives and field specialists as well as launched information campaign in the media to attract the attention of a wide audience.

    4. The working group developed a draft Law “On Amendments to Certain Legislative Acts of Ukraine (as to Elimination of Administrative Barriers to Export of Services)” which envisages the following:

    - Exporters of services will be able to conclude foreign trade agreements (contracts) not only in writing;

    - Currency control over export of services transactions will be canceled;

    - Banks are prohibited to demand translation of documents into Ukrainian, in case they are available in English;

    - a receipt (invoice) will be recognized as a primary document which should simplify and streamline the procedures for accounting and financial reporting;

    - a receipt (invoice) may be signed with a personal signature, analogue of a handwritten signature, electronic signature or electronic digital signature under the Law of Ukraine "On Electronic Digital Signature" or electronic signature with a single identifier. At that, only an exporter’s signature will be required.

    5. Organized advocacy campaign to collect the required number of signatures of the members of Parliament under this draft law and gain the relevant support among the MPs in the session hall of the Verkhovna Rada.

    6. The draft Law Law “On Amendments to Certain Legislative Acts of Ukraine (as to Elimination of Administrative Barriers to Export of Services)” No. 4496 was registered in the Verkhovna Rada of Ukraine.

    7. The Parliamentary Committee on Industrial Policy and Entrepreneurship recommended adoption of the draft Law Law “On Amendments to Certain Legislative Acts of Ukraine (as to Elimination of Administrative Barriers to Export of Services)”No. 4496 in the first reading.

    8. The Verkhovna Rada of Ukraine supported the draft Law No. 4496 the first reading with regard to elimination of administrative barriers to exports of services.

    9. In June National Bank of Ukraine Adopted a Decree #347 That Amended to Regulations on the Procedure of Control for Export and Import Operations: Amendments include the execution of invoice as a document confirming the completion of services. In addition, the decree provides the possibility for services exporters to submit documents to banks in e-form.

    10. On Thursday, November 3, Verkhovna Rada of Ukraine adopted Law "On Amendments to Certain Legislative Acts of Ukraine on Elimination of Administrative Barriers to Exports of Services". The majority of 270 MPs supported the draft in second reading.

    11. On Wensday, November 30, President signed the law on elimination of administrative barriers to export of services.

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