Ukraine’s parliament passes law to streamline reforms of country’s customs

Source: Yaroslav Zheleznyak/Telegram

Ukraine’s Customs is in for a major overhaul after the Ukrainian parliament passed Bill No. 6490-d to update customs operations. The news came from Yaroslav Zheleznyak who praised the legislation after it received the votes of 260 Ukrainian MPs on Tuesday.

“This reform is a huge signal to the IMF, World Bank, the U.S., business associations, and the public. But most importantly, it’s the best thing we could do to boost revenue for the state budget,” Zheleznyak said in his post on social media.

The reform is expected to rake in at least 100 billion hryvnias in revenue over the next few years. One of the key features of the bill is about ‘transparent’ appointment of the head of the executive body responsible for customs policies.  It will be handled by a selection committee to ensure top talent leads the charge.

The reform promises not just smoother customs operations but also a solid foundation for reducing corruption and easing the burden on businesses. The authors of the policy believe that new recruitment and service policies will help spur up Ukraine’s economic growth, and keep its customs operations efficient and transparent.