On July 21, 2022, changes to the Tax Code (Law No. 2330-IX) and the Customs Code (Law No. 2331-IX) entered into force for the initiators of the creation of industrial parks, their management companies and participants. The adoption of these laws completes the reform of the system of state incentives for investment parks.
These laws provide additional state incentives, including:
• exemption from income tax for 10 years, subject to reinvestment in the development of the investment project;
• exemption from VAT on the import of new equipment for own use;
• the possibility of granting benefits for real estate taxation on the territory of industrial parks by decision of the local self-government body;
• exemption from import duty taxation of new equipment imported by participants of industrial parks for their own use.
As of August 2022, the Ministry of Economy is developing subordinate legal acts for the full launch of the system of state incentives for industrial parks.
For those who already intend to take advantage of incentives for industrial parks, we suggest that you read the explanatory guide from the UkraineInvest team.
The guide contains all necessary information about available incentives, requirements for industrial parks, procedures for inclusion in the register of industrial parks, selection of a management company, etc. It will be updated taking into account the relevant by-laws adopted by the Cabinet of Ministers.
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