The Cabinet of Ministers has approved the draft Law on authorized economic operators

5/25/16

On May 25, the Government approved the draft Law on authorized economic operators which was elaborated by the Ministry of Finance jointly with experts and NGOs.

The Ministry of Finance is implementing the systemic reform of the customs service including the adjustment of Ukrainian tax and customs regulations to the Agreement between Ukraine and the EU on the Deep and Comprehensive Free-Trade Zone (EUDCFTA). Under this policy, the above draft Law on authorized economic operators (AEO) was elaborated which is similar to the respective EU regulations and is one of the key pillars for the customs cooperation between Ukraine and the EU.

The approved draft Law stipulates that diligent companies should receive official AEO certificates (certificate confirming reliability and security and/or certificate for the application of simplified customs clearance procedures). Depending on the type of the certificate, companies with the AEO status will be able to enjoy the following simplified procedures:

- priority customs clearance under the reduced customs procedure;
- submission of concise import customs declaration with a shortened set of data;
- in-advance notification about customs examination, possibility to choose the place of the examination etc.

The draft Law also sets a transparent procedure for the acknowledgement of the AEO status based on clear criteria. AEOs must strictly observe the Ukrainian legislation and comply with reliability and security standards, have a flawless business reputation, be financially stable, have a positive contract record etc.

Companies acknowledged as AEO become a part of the so-called safe international supply chain. This contributes to their better competitiveness in Ukraine and on the international market. The final result of the reform should be the mutual acknowledgement of Ukrainian and European AEOs.

Presentation

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