The council extended benefits for the import of energy equipment.

Ukraine extended the VAT exemption on the import of energy equipment until 2028

On December 3, the Verkhovna Rada of Ukraine adopted a law extending the VAT exemption on the import of energy equipment until 2028. This step aims to encourage investment in the country’s energy sector.

The VAT exemption applies to equipment for wind power plants, solar power plants, energy storage installations, as well as gas-powered and gas turbine generation. The relevant amendment was introduced to bill No. 14097, which was passed on the same day in the second reading. This was reported by Andriy Gerus, the head of the Verkhovna Rada committee on energy and housing and communal services.

The extension of the VAT exemption period is expected to attract larger investments in Ukraine’s energy sector, which is crucial for the restoration and development of the energy infrastructure. The initiative might also have a positive impact on the overall economic situation in the country by reducing the cost of energy projects.

The decision was made in the context of Ukraine’s efforts to modernize its energy system, which has been affected by military conflicts and economic challenges. Analysts expect these changes to facilitate new projects in the renewable energy sector and help the country achieve its carbon emission reduction goals.