The Law of Ukraine "On State Support of Investment Projects with Significant Investments" has been adopted, so what should we expect from it? It is proposed to create a new type of investor, which would provide state support for investment projects with significant investments in the following forms:
- exemption from payment of certain taxes and fees in accordance with the Tax Code of Ukraine;
- in order to implement the investment project, it is proposed to exempt from taxation the import duty of new equipment or components;
- securing the preemptive right to land use of a land plot of state or communal ownership for the implementation of an investment project with significant investments, in particular, the transfer of a land plot for use, at the same time providing the investor with a further preemptive right to acquire it into ownership after the implementation of a special investment agreement;
- it is also proposed for the purpose of implementing the project at the expense of budgetary funds and other sources not prohibited by law, the construction of adjacent infrastructure facilities (roads, communication lines, heat, gas, water and electricity supplies, utilities, etc.).
After reviewing its content, we can conclude that its strategic directions are attracting new specialized investors to the country's economy, increasing the investment attractiveness of Ukraine, as well as the rapid growth of the competitiveness of the economy as a whole.
It should be noted that the last innovation will be implemented only from January 01, 2022.
Daria Vasina, lawyer @ Dynasty Law & Investment.
