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Poroshenko signs law slashing excise tax on used cars

The law will be amended on July 7 "to avoid abuse."

Poroshenko signs law slashing excise tax on used cars

President Petro Poroshenko signed on 4 July the law significantly cutting excise duty on imports of used cars by individuals or legal entities under the condition of imports of one car per year.

Presidential spokesman Sviatoslav Tseholko said it was also agreed the law will be amended on July 7 "to avoid abuse."

The bill was passed by the parliament on May 31, signed by Speaker Andriy Parubiy on June 16, and submitted to the president for signature.

On July 4 the Cabinet of Ministers of Ukraine proposed Poroshenko sign this law.

The document comes into force on the first day of the month following the month of its publication.