The Verkhovna Rada adopted in the second reading a draft law on updating the property valuation system in Ukraine and also unblocked the competition for the Accounting Chamber. The documents are among the four decisions required to unblock EU macro-financial assistance under the Ukraine Support Loan program. Two more draft laws are still pending—on the taxation of parcels, which are to be considered on Thursday, October 15, UNN writes.
Details
Draft Law No. 13435 "On Property Valuation" was adopted in the second reading and in full with the votes of 271 members of parliament.
The document regulates public relations arising in the course of property valuation, the review of property valuation reports, the professional training and advanced training of valuers, regulation and professional self-government in the field of property valuation, and also establishes rules for determining the amount of property damage, including damage caused by the damage, destruction, or loss of property or other violations concerning such property as a result of an armed conflict.
Property valuation will be carried out by a single professional organization of valuers, which will provide training for specialists, quality control, and protection of their interests, with the aim of forming a professional judgment on the value of property (determining its value) or calculating the value of property.
The types of property value determined through property valuation are:
- market value;
- fair value;
- investment value;
- other types of value provided for by international valuation standards and other regulatory legal acts in the field of property valuation.
"Property damage caused by the damage, destruction, or loss of property or other violations concerning property, including as a result of hostilities, terrorist acts, or sabotage caused by an armed conflict, as well as the amount of costs for restoring property, shall be determined through an independent property valuation, and in cases established by the legislation of Ukraine, through a standardized property valuation," the document says.
As Olena Shulyak, Chair of the Verkhovna Rada Committee on the Organization of State Power, Local Self-Government, Regional Development, and Urban Planning, explained, instead of strict state control and bureaucratic procedures, the draft law strengthens the role of professional self-government. Valuers themselves and their professional associations will receive more powers and responsibility.
Shulyak added that for ordinary citizens and businesses, the valuation of an apartment, house, or enterprise would become more objective and understandable. The results produced by Ukrainian valuers will begin to be recognized by international investors and foreign banks.
Link to EU requirements
The aforementioned draft law is included in the list of conditions for the EU MFA (European Union Macro-Financial Assistance) program—macro-financial assistance from the European Union—and is also one of the structural benchmarks of the International Monetary Fund program.
It should be noted that, under the loan agreement and memorandum with the European Union for attracting a €90 billion loan, Ukraine must fulfill several conditions, including:
- the Verkhovna Rada's adoption of legislation establishing a property valuation system that defines institutional roles and responsibilities concerning property valuation;
- the Verkhovna Rada's approval of the appointment of the three missing experts to the commission for selecting members of the governing board of the Accounting Chamber of Ukraine;
- the Verkhovna Rada's adoption of a law abolishing the tax exemption for international parcels, except for goods intended for security and defense purposes;
- the Verkhovna Rada's adoption of legislative amendments introducing taxation of income received through digital platforms.
Rada ratified the attraction of a 90 billion euro loan from the EU28.05.26, 11:15
What else Parliament approved
At its meeting on Wednesday, October 14, the Verkhovna Rada adopted a resolution establishing an advisory group of experts to conduct the preliminary selection of candidates for positions as members of the Accounting Chamber.
It consists of three representatives from international and foreign organizations, whose candidacies had previously been approved by a Cabinet resolution, including:
- Lee Summerfield – Director of a department at the National Audit Office of the United Kingdom of Great Britain and Northern Ireland (NAO);
- Igors Ludboržs – former member and dean of the European Court of Auditors (ECA);
- Pascal MUNIER – honorary magistrate of the Cour des comptes (Court of Auditors, the supreme audit institution of the French Republic).
Three representatives from Ukraine who received the highest number of votes also joined the advisory group:
- Mykola Marchenko (first deputy head of the secretariat of the parliamentary faction of the political party "Servant of the People") – 265;
- Hlib Vyshlinsky (executive director of the NGO "Centre for Economic Strategy") – 204;
- Myroslava Masliak (senior lecturer at Kharkiv National University of Economics) – 202.
As Roksolana Pidlasa, chair of the Verkhovna Rada Committee on Budget, said, the establishment of the advisory group of experts is a condition of the Ukraine Support Loan (the macro-financial component) from the EU, with a deadline of August 2026, while the appointment of the full membership of the Accounting Chamber from among the candidates pre-selected by the group of experts is a structural benchmark of the cooperation program with the IMF, which must be fulfilled by December 2026. The funds from these programs are used to finance the state budget deficit and are disbursed in tranches subject to the fulfillment of the commitments undertaken.
Following the establishment of the group, the submission of documents by candidates will begin within a week of the vote in the Rada and will last 30 days. The advisory group of experts will then conduct testing and interviews and recommend at least two candidates for each position to parliament. The final decision rests with the Verkhovna Rada: it will appoint new members of the Accounting Chamber from among those recommended.
A citizen of Ukraine aged 30 or older may become a member of the Accounting Chamber if they speak Ukrainian and English or French, hold at least a master's degree, have at least seven years of total work experience and at least five years of experience in public control (audit), economics, finance or law, as well as an impeccable business reputation.
Today, two bills on abolishing the exemption for parcels worth up to 150 euros were also on the parliament's agenda, but it was decided to postpone the final vote until Thursday.
"We are now going to hear the amendments to the bills on parcels. Today, the amendments will be considered, while the confirmation, except for one, will take place tomorrow, and the substantive vote will be tomorrow (October 15 – ed.)," First Deputy Speaker of Parliament Oleksandr Korniienko said during the meeting.
It is worth noting that on Tuesday, September 1, the Verkhovna Rada once again failed to vote on bills abolishing the tax exemption for parcels worth up to 150 euros. The bills in question are No. 15460 and No. 15112-d.
Verkhovna Rada has once again failed to pass the tax on parcels worth up to €15001.09.26, 13:40
On September 7, the Cabinet of Ministers approved and submitted to the Verkhovna Rada two related draft laws on the taxation of small postal and express shipments worth up to 150 euros ordered through marketplaces. The documents provide for the abolition of the tax exemption for parcels worth up to 150 euros.
Bill No. 15460 introduces amendments to the Customs Code of Ukraine (which regulates customs procedures, border-clearance rules and the 150-euro threshold for import duty).
Under the bill, VAT would be imposed on imported goods purchased through marketplaces starting from 0 euros.
Currently, international shipments worth up to 150 euros are not subject to import VAT or import duty. Under the proposed rules, the threshold itself would remain, but its effect would change: goods worth up to 150 euros would be exempt from duty only. Thus, VAT at the basic rate of 20% would already be charged from the first euro of the item's value.
For shipments costing more than 150 euros, the basis for calculating the duty would change. It would be charged at a rate of 10% of the parcel's entire invoice value, rather than only on the amount exceeding 150 euros.
At the same time, private, duty-free gifts worth up to 45 euros were expected to remain exempt from taxation. The new rules would not apply to the distance selling of alcohol and tobacco.
Government Bill No. 16051, which introduces amendments to the Tax Code of Ukraine, establishes rules for the assessment and payment of VAT on e-commerce and parcels; however, the government included provisions bringing the rules concerning politically exposed persons (PEPs) into line with the version agreed with the EU.
Incidentally, on June 9, the Verkhovna Rada adopted in its entirety Bill No. 15111-d on the taxation of digital platforms. On June 11, it was signed by Verkhovna Rada Chairman Ruslan Stefanchuk, and on June 12 it was sent to President Volodymyr Zelenskyy for signature, since when the document has been "stuck" with the head of state.
The fact is that, during the second reading, a provision was submitted to the bill envisaging changes to the financial monitoring system for politically exposed persons (PEPs). It was included in the draft by the relevant committee and subsequently supported by the plenary chamber.
PEPs include current and former top officials: from members of parliament, ministers, and the president to heads of law enforcement agencies, members of the NBU Board, and ambassadors.
Bill No. 16051 provides for the exclusion from the list of politically exposed persons of heads of structural units of the central office of the National Bank of Ukraine and employees responsible for conducting financial monitoring at a bank in which the state owns more than 50 percent of the shares.
Under the legislation, banks and other financial companies are required to conduct enhanced financial monitoring of PEPs, their close relatives, and business partners.
PEP status is lifelong. At the same time, enhanced financial monitoring applies throughout a person’s tenure in a top position and for 12 months after their dismissal. However, banks and other financial institutions may continue to subject a PEP to enhanced scrutiny if they consider that the person remains risky.
The amendments introduced to the bill impose penalties on banks that decide to continue enhanced monitoring of a PEP’s transactions after 12 months have passed since the person’s dismissal from a top position.
According to some members of parliament, it is precisely because of this amendment that Zelenskyy has still not signed the aforementioned bill.
However, during its September 16 meeting, the Rada adopted an alternative bill—No. 16051-1—which abolishes the provisions concerning PEPs and stipulates that taxes on parcels will be credited to the special fund of the State Budget of Ukraine and directed toward meeting the needs of the Armed Forces of Ukraine.
The Rada supported abolishing the duty-free allowance for parcels worth up to €15016.09.26, 13:02
However, by the second reading, amendments concerning PEPs had also been included in Bill No. 16051-1; they are intended to unblock the signing of Law No. 15111-d on the taxation of income from digital platforms.