The President signed a law on a duty on Ukrainian stone exports: what is the rate and when will the new market start operating
Kyiv • UNN
The duty on labradorite, granite and gabbro will be €300 per tonne for 10 years. The law will take effect 45 days after publication.
President Volodymyr Zelenskyy signed a law introducing a duty on the export of natural stone, including labradorite, granite and gabbro. This was reported by the National Association of Ukraine’s Extractive Industry (NAUEI), which initiated the introduction of the duty, UNN writes.
The rate will be €300 per tonne and will remain in effect for ten years. Law No. 4903-IX, adopted on the basis of Draft Law No. 15111-d, was published in "Holos Ukrainy" on October 22. The provision on the duty will enter into force 45 days after the day following its publication.
The Association noted that, together with experts and market participants, it had consistently advocated changes aimed at developing stone processing in Ukraine. According to the Association’s plan, the duty is intended to stimulate the production of goods with high added value, as well as the creation of enterprises and jobs within the country.
"Our task today is to move from a raw-materials-based model to the creation of products with high added value, new production facilities and jobs within the country," the Association said in a statement.
According to an estimate by Danylo Hetmantsev, chairman of the parliamentary finance committee, cited by the Association, the introduction of the duty could generate approximately UAH 463 million in additional budget revenues annually.
The Association emphasized that the next step should be to turn the legislative decision into a concrete economic result — the development of Ukraine’s processing sector.