Providing SMEs with practical export skills
Representatives of SMEs are poorly aware on the practical issues such as searching partners abroad, analyzing potential markets, assessing their own export opportunities.
Currency control over export of services
In order discontinue control over export transactions, a bank is forced to require from an exporter a number of documents in paper form. The tax and revenue authorities do not recognize invoices as primary documents as well.
Support SMEs in understanding the specifics of the EU export requirements
SME representatives are often unaware with what EU requirements on quality, environmental and other regulations they have to align. This situation explains why the European markets are closed for Ukrainian producers.
Development and implementation of a comprehensive export promotion policy
The National Export Promotion Strategy and Policy shall serve as a unifying element, bringing together the interests of business and the authorities in their efforts to increase Ukraine’s export.
- Responsible individuals
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.