The Verkhovna Rada adopted amendments to the Tax and Customs Codes, which define the procedure for taxation of business entities that implement investment projects with significant investments.
Until January 1, 2035, transactions on import of goods into the customs territory of Ukraine, the list and volumes of which are approved by the Cabinet of Ministers of Ukraine together with the conclusion of a special investment agreement, are exempt from VAT.
Exempt from corporate income tax are enterprises - investors with significant investments for 5 consecutive years from the date of application but not earlier than the date of submission of such application and the date of commissioning of the facility constructed (for which reconstruction, restoration, overhaul) in within the implementation of the investment project.
Land tax and rent rates for state and communal lands may also be set at a rate lower than the amount of land tax established by a decision of the relevant local self-government body. Exemption from land tax is possible.
Also, on January 1, 2035, the equipment (equipment) to be imported into the customs territory of Ukraine by the investor is exempt from import duty. In this case, such equipment (equipment) must be new and manufactured not earlier than 3 years before the date of registration of the investment project with significant investment.
