Policy Win: National Bank of Ukraine Improved Currency Control over Import of Raw Materials under Inward Processing Regime

The American Chamber of Commerce in Ukraine welcomes the approval of the National Bank of Ukraine Resolution #158 amending the procedure for control of export and import operations. The Resolution expands the list of types of customs declarations used by banks to call off the currency control of the import operations of residents. Namely, the list was amended with a customs declaration IM-51 "Processing in the customs territory". Thus, banks could call off the currency control of the imported raw materials, placed under the customs inward processing regime. This simplifies usage of the customs inward processing regime when importing raw materials by residents.

The Chamber Member Companies appealed for the establishment of such an order of currency control for the import of raw materials, which will help to accelerate foreign economic activity.

We would like to thank all Members of the American Chamber of Commerce in Ukraine, who were actively involved in this advocacy process, for their contribution.

Experts of the Chamber Member Companies will continue working on further facilitation of conditions for international trade.