Parliament adopted the draft Law that will allow to un-shadow the fuel market

Verkhovna Rada of Ukraine approved the draft Law “On Amendments to the Tax Code of Ukraine and some other legislative acts of Ukraine on improving the excise tax administration”. It improves system of electronic administration on the sale of fuel and ethyl alcohol and simplifies the licensing conditions for the storage of fuel by business entities that use it only for their own consumption.

In particular, the Law:

- revised the terms and procedure for applying penalties for violation of the rules of accounting, production and turnover of fuel or ethyl alcohol at excise warehouses,

- changed the registration deadline for the consolidated excise invoices up to 15 calendar days,

- enabled retailers with opportunity to choose their own way of compiling the excise invoices in case of sale through the columns. 

In addition, there is abolition of the requirement to equip tanks with the flow-meters for the production of fuel upon the cleaning of the coke gas, as well as provision of the possibility to make calculation adjustments to the excise invoices in order to correct wrong requisites of the recipient.

Information about the excise warehouses registered in the system of electronic administration on the sale of fuel and ethyl alcohol will be posted on web portal of the STS.

Also, there is prescribed application of the excise tax on the use of goods (products) whose codes are not listed in the list of excise fuel according to Ukrainian classification of goods of the foreign economic activity but is used as fuel for vehicles, equipment or devices.

These and other changes made by the adopted Law will help to strengthen the control on the fuel market and un-shadow this segment.