Today a meeting of the Subcommittee on Rent Payments, Environmental Tax and Taxation of AIC of the Committee of the Verkhovna Rada of Ukraine on Finance, Tax and Customs Policy regarding Draft Law №5600 on Environmental Tax, Rent Payments and Excise Duty on Green Energy took place; the purpose of the first meeting is to create equal conditions for all electricity producers

Oleksandra Gumeniuk, Director of EUEA, expressed a clear position of the association from the largest foreign investors in renewable energy sector regarding the complete disagreement of the excise tax introduction as another retrospective change in legislation. In particular, Mrs. Gumeniuk pointed out that this would contradict the guarantees of invariability of legislation for investors provided by the Government of Ukraine on June 10, 2020 at the signing of the Memorandum and confirmed by the Verkhovna Rada of Ukraine through the adoption of Law №810-IX.

A hot reaction was caused by speech of a representative from the Ministry of Finance, who commented that the Draft Law №5600 does not violate any guarantees, as the legislation does not change. According to her words, the legislation was adopted in 2015, and that “the abolition of benefits is not a change in legislation”.

Unfortunately, with such arguments, Ukraine is weakening its position as a reliable business partner.