New conditions for trading activity in the current year were the key topic during the meeting. In particular, the participants discussed changes in the Tax Code of Ukraine regarding a VAT refund to grain and oilseeds producers, current price tendencies on the international grain markets, and peculiarities of grain and oilseeds exports under new legislation.
Thus, Natalya Medun, first deputy chief accountant, familiarized employees with the latest changes in the Tax Code of Ukraine, in particular supply of agricultural crops in Ukraine and for export. She paid attention to differences in the taxation of agricultural producers with VAT in 2015 and 2016.
Speaking about current legislative changes, Oleksiy Vadaturskyy mentioned that due to this tax innovation the agrarian sector would receive additional funds in price, and working conditions would be more profitable in comparison with the previous ones even without additional benefits. The legislative changes will enable famers to become exporters and not to develop shadow agrarian sector. NIBULON’s specialists themselves explain these issues to partners, farmers and agricultural producers.
“Openness and transparency (both business and legislative) will help to legalize market relations in the agrarian sector. It is impossible to live and work in the shadow economy of the grain sector. Otherwise, we will continue discrediting Ukrainian agrarian sector in the world, losing confidence of world investors”, said Oleksiy Vadaturskyy.
Then the participants discussed world trade issues. Grain wholesale trade managers, Volodymyr Slavinskyy and Dmytro Furda, familiarized their colleagues with the main tendencies on the international agrarian markets. They analyzed world balances of production and consumption of different crops, described the dynamics of key economic indicators during the past years, forecasted prospects of Ukrainian grain exports on the global markets in the 2016/17 marketing year, and others.
Price tendencies on the world market were discussed separately. In particular, the company’s specialists stressed that agricultural producers did not know when to expect an increase in grain price. Far from promoting price increase, the macroeconomic and political factors, formed in the world during the last three years, are causing price reduction. Favourable weather conditions to grow grain in the world together with a sharp slump in oil prices do not give us any cause to wait for a significant price increase.
Keeping the discussion, Yuliya Murachova, a head of trading department, familiarized NIBULON’s employees with peculiarities of grain and oilseeds exports under new legislation. According to her, the amendments to the Tax Code will promote further development of the agrarian sector, in particular in terms of foreign trade, competitiveness recovery and also additional currency earnings, etc.
Summarizing the above-mentioned information, Valeriy Kunytskyy, a head of foreign economic relations and marketing department, informed his colleagues about the process of document execution for grain to be exported and samples of documents required for trade and export operations.
Regular production meetings held at NIBULON prove that the company openly expresses its opinion as to different legislative and other issues. Great experience enables our specialists to analyze branches of the Ukrainian agrarian sector and economy as a whole and to specify topical problems as well as the ways of development. Our team, working transparently and supporting innovative reforms, makes everything possible so that Ukrainian economy may work more effective.