The foreign currency revenue of the residents from the export of the products is to be credited to their foreign currency accounts at the authorized banks within the repayment period terms specified in the contracts, but not later than 180 calendar days from the date of the custom clearance (the extract of the Export Cargo Custom Declaration) of these exported products, as well as the export of works and logistic services, from the moment of signing of the Act or other document confirming the works and logistic services performance. Rescheduling the period of maturity data requires special ordinances of the Ministry of Economic Development and Trade.
The resident’s income under the export foreign trade agreement (contract) is considered to be transferred to his bank account at the request of the resident if the appropriate amount is settled by the Export Credit Agency.
The above statement does not apply to the export of the services (except those of the transport and insurance), intellectual property rights, copyright, and related rights.
The violation of these requirements entails the liability under the Law No. 185 Art. 4, stating the penal interests’ exaction for each day of delay in the amount of 0.3% from the total amount of the undrawn profit (the value of short delivered goods) in foreign currency converted into hryvnia at the rate of NBU (National Bank of Ukraine). The total amount of penal fine may not exceed the amount of the undrawn profit (the value of the short delivered goods).
It was noted by the Tax Authorities in the statement of INC No/5091/IPK/26-15-14-06-04-31 dated 04.12.2018 that the rules of the Law No.185 do not apply to the export of advertising services.
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