Ukraine President Signs Law Providing Exemptions for Electric Vehicles

The Ukrainian President Aug. 11 signed Law No. 1660-IX, amending VAT and income tax rules for manufacturers and sellers of electric vehicles. The law includes measures: 1) exempting VAT on the import of electric vehicles and qualified new internal combustion engine vehicles until Jan. 1, 2026; 2) exempting VAT on the import of goods used for electric vehicle production until Jan. 1, 2031; and 3) exempting from corporate income tax the income of electric motor, battery, and charger manufacturers that invest in R&D until Dec. 31, 2035. The law enters into force Jan. 1, 2022. [Ukraine, Office of the President, ...