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Industry associations including the Association of Alternative Fuel and Energy Market Participants of Ukraine (APEU), the Ukrainian Wind Energy Association (UWEA) and Bioenergy Association of Ukraine (UABio) wrote an Open Letter to the Prime Minister of Ukraine Arseniy Yatsenyuk regarding a draft bill "On Amendments to the Tax Code of Ukraine and Some Other Legislative Acts of Ukraine (Concerning Improvement of Certain Provisions) " being registered under № 4309a from July 24, 2014.
The Cabinet of Ministers proposes abolishment of income tax exemptions to producers of electricity from renewable energy sources. Additionally, the draft bill provides for the imposition of the excise tax on alternative motor fuels in the amount of EUR 139/t.
According to the associations’ experts, adoption of the draft law № 4309 from 21.07.2014 initiated by the Cabinet of Ministers of Ukraine, will extremely negatively impact the national market of alternative fuels and the renewable energy industry of Ukraine as a whole. In addition, the cancellation of this benefit will greatly retard the process of replacement of Russian natural gas, which delivery to Ukraine has been suspended.
The associations appealed to consider their attitude to the proposed amendments to the law that reflects the opinion of the majority of renewable energy market participants, and to prevent the abolition of income tax exemptions to producers of electricity from renewable energy sources and the imposition of the excise tax on alternative motor fuels.
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