On 10 April 2014, Parliamentpassed a law amending VAT rules for the pharmaceutical industry.*
According to the available draft law:


 - Import of registered medicines and goods of medical purpose from theapproved list is subject to 7% VAT.
 - 7% VAT also applies to import and local supplies of medicines, medicaldevices and medical equipment used in clinical trials. 
 - Until 1 June 2014 cash receipts issued in respect of these products arenot required to reflect any VAT information. Relevant systems need to beadjusted by this date.


The Law comes into force after its publication, which is expected in the nearfuture.

* TheDraft Law # 4645 dated 7 April 2014

 
Contacts:

Ron Barden,Partner & TLS Leader, ron.j.barden@ua.pwc.com
Rob Shantz, Legal Partner, rob.shantz@ua.pwc.com
Slava Vlasov, Partner, Tax and Legal Services, slava.vlasov@ua.pwc.com
ViktoriaTymoshenko,Senior Manager, Tax and Legal Services, viktoria.tymoshenko@ua.pwc.com

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