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Ukraine’s joining of European power grid calls for tax legislation changes
Journal Staff Report

KYIV, July 23 – Coupling of the Ukrainian and European electricity markets, in addition to solving a number of technical issues, requires, in particular, the adoption of amendments to the Tax Code of Ukraine regarding the calculation and payment of value added tax (VAT), Head of the Market Operator Roman Sutchenko has said.

"By the time of joining the European markets, significant amendments will have to be made to the legislation, primarily to the Tax Code. In Europe, the VAT payment point has been moved to the retail market, that is, to the end consumer. This is not the case in the wholesale part of the market. In our country, VAT is paid along the entire chain. This is a problem, and it must be solved, because we will not be able to join if everything works differently for us, and the final cost of goods is different than theirs," he said at a meeting with journalists in Kyiv on Thursday.




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