Ukraine drug imports halted due to VAT confusion
Imports of medicines into Ukraine have completely stopped, due to current confusions regarding the value-added tax (VAT) rate on imported drugs to the country, report local sources.
According to Denis Shevchenko, a senior analyst of PharmUkraine, the association, which represents Ukraine’s largest drug distributors, currently the Ukrainian Parliament and government are still considering the question the future VAT rate for drug imports to the country, which may be set either at 7% or 20%. Also, the research-based trade group APRaD has held talks with the customs authorities on the subject (The Pharma Letter April 14).
Mr Shevchenko added that setting the rate at 7% will result in the resumption of drug imports to the country. However, in the event it increases up to 20% many producers and distributors will consider the possibility of leaving the Ukrainian pharmaceutical market.
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