Support Us


Cashback programme for buying local to be unveiled by end of March – President's Office

Friday, 15 March 2024, 21:28
Cashback programme for buying local to be unveiled by end of March – President's Office
Rostyslav Shurma. Photo: Dmytro Larin, UP

Ukraine’s Cabinet of Ministers could approve a cashback programme designed to encourage Ukrainians to buy local goods by the end of March.

Source: Rostyslav Shurma, Deputy Head of the President’s Office, at KIEF TALKS (Kyiv International Economic Forum), as reported by Forbes Ukraine

Details: Shurma said that the programme is fully developed, but it still needs to be agreed with Ukraine’s international partners.

Advertisement:

"People will receive a classic cashback for buying local goods. I can't tell you the amount yet, but it’s very decent," he said.

Shurma added that a methodology for distinguishing local goods from non-local ones has also been developed and agreed upon.

"There will be several conditions: payment must be cashless to stimulate transparency," Shurma said.

The seller must be a taxpayer under the general taxation system "to ensure they are not tax evaders and stimulate transparent operations".

"Some people may debate the percentage of the local component. But any product on the shelf, even if it was only packaged or branded in Ukraine, then that’s already 40% of the retail price. And if that’s a tax payment, then the synergy for the country is clear," Shurma summed up.

He said the state would also be focusing on buying Ukrainian goods, but that the mechanism for that is still under development.

Background:

  • On 26 February, President Volodymyr Zelenskyy announced that as part of a new state cashback programme dubbed QABuy Ukrainian, Ukrainian citizens will be able to receive a refund of part of their payments for Ukrainian-made goods and services.
  • The government has approved a "Made in Ukraine" trademark image for goods produced in Ukraine, which will be available to businesses, NGOs and government agencies free of charge.

Support UP or become our patron!

Advertisement: