Partner of WTS Consulting Maxim Oleksiyuk took part in the discussions of perspectives of agricultural receipts introduction in Ukraine

August 12, 2015

On  August 6 Maxim Oleksiyuk, Partner of WTS Consulting, co-chairman of the Tax Committee of the American Chamber of Commerce in Ukraine, took part in the expert discussions of the “Introduction of perspectives of agricultural receipts in Ukraine”. Expert meeting was held in the Communicative Center of the Government house. The meeting was aimed at considering the particular ways of legal base improvement as of the perspective of agricultural receipts introduction, realization of pilot project on testing the technology of putting into circulation agricultural receipts.

Maxim Oleksiyuk has declared his opinion as of the common order project of the Ministry of Agrarian Policy and Food of Ukraine and Ministry of Justice of Ukraine on the pilot project distribution on agricultural receipts introduction testing through the example of certain regions. It was said that the possibility of getting additional resource and increase the production on pledge of future crop was the most interesting option among the existing ones for the farmers. It was declared as well that the pilot project being realized demonstrated the potential in attracting the financing in the branch. Maxim Oleksiyuk underlined that practical experience demanded reasonable steps to increase the attractiveness and accessibility of agricultural receipts, where he named the following:

  • application upon certification of the agricultural receipts by the notaries the amount of the state fee at the level of pledge agreements certification (0,01 %), but security certification (0,1 %), as it was proposed by the Ministry of Justice, because the agricultural receipts form the pledge  of the future crop and are not the securities;
  • introduction of the automatic access of any notary to the register without the opportunity to withhold by government enterprise the majority of notaries from the register  by means of the refuse to  execute or terminate the agreement which poses the corruption risk;
  • exclusion from the para. 4 of Article 31 of the Law of Ukraine “On Agricultural Receipts” the possibility of the creditor to collect under the receipt any property of the third party who had bought the grain in the debtor.

The representatives of the Ministry of Agrarian Policy and Food of Ukraine, the public institutes took part in the discussion. At the event was installed videoconferencing with such cities as Dnipropetrovsk, Lviv, Poltava, Odessa, Kharkiv, and Chernigiv. During the meeting were discussed the difficulties being met by the regions (through the example of Poltava region), and the possible ways for their settlement.

More information about the event and its results is available by link.

Kind regards,

© WTS Consulting LLC, 2015