Deadlines for settlements for a number of export-import operations are canceled
As part of currency liberalization, the National Bank of Ukraine has simplified currency supervision over the observance of settlement deadlines for the export of works, services and intellectual property rights. This applies also to a number of operations for the export and import of goods that are particularly important to the country's defense capability, and adequate access for Ukrainians to medical services and development of aerospace construction.
Now, the deadlines for settlements on foreign economic operations (as of today - 365 days) will not apply to the following:
- import of goods under government contracts for defense orders;
- import of services or medicines under agreements of the Ministry of Health of Ukraine with specialized
- organizations, as well as import of services for the treatment of people with rare diseases;
- import of goods used for the production of space and aviation equipment and assemblies;
- export-import of goods under production sharing agreements;
- export of works, services (except for transport and insurance services and works) and intellectual property rights.
Simplification of foreign exchange supervision on these operations was carried out taking into account the order of the Cabinet of Ministers of Ukraine No. 76-r dated February 13, 2019 and consultations with the Ministry of Economic Development and Trade.
In addition, the National Bank now allows the banks to monitor compliance by the client with the deadlines for settlements on operations for the export of goods after crediting funds under a letter of credit.
These changes were approved by the Resolution of the Board of the National Bank of Ukraine No. 67 dated May 14, 2019 “On the establishment of exceptions and (or) the peculiarities of introducing deadlines for the settlement of operations on the export and import of goods and amending certain regulatory legal acts”. They entered into force on May 16, 2019.