NBU Сanceled the Deadlines for the Settlement of a Number of Operations

As part of currency liberalization, the National Bank has simplified currency oversight of compliance with the deadlines for payments for the export of works, services and intellectual property rights, as well as a number of export and import operations of goods that are important, in particular, to ensure the country’s defense, adequate access of Ukrainians to medical services and the development of the aerospace structure.

These changes were approved by the Resolution of the Board of the National Bank dated May 14, 2019 No. 67 “On the establishment of exceptions and (or) features of the implementation of the deadlines for settlements on the export and import of goods and the introduction of changes in some regulatory acts”, which has already entered into force.

From now on, the deadlines for settlements on foreign economic operations (today, 365 days) will not apply to the following:

– import of goods under government contracts for defense orders;

– the import of services or medicines under agreements of the Ministry of Health of Ukraine with specialized organizations, as well as the import of services for the treatment of citizens with rare (orphan) diseases;

– import of goods used for the production of space and aviation equipment and units;

– export-import of goods under production sharing agreements;

– export of works, services (except transport and insurance services and works) and intellectual property rights.

Simplification of currency oversight of these operations was carried out taking into account government order No. 76-r of February 13, 2019 and consultations held with the Ministry of Economic Development and Trade.

In addition, the National Bank allowed banks to complete currency control over compliance by the business with the deadlines for settlements on the export of goods after crediting funds for a letter of credit.