Ukraine | Simplification of customs procedures – introduction of AEO status
On October 2, 2019 the Parliament of Ukraine passed a law introducing the status of authorized economic operators (AEO) and simplifying the process of getting through customs. Obtaining AEO status allows for lowering the cost and time for movement of goods through customs.
It gives the green light for simplifying international trade with countries which have agreed and are accredited to cooperate (35 countries). The status is granted through a certificate that is recognized in the entirety of Ukraine. This tool has a working analogy in the European Union, where its introduction is prescribed by the EU-Ukraine Association Agreement. The goal of integration in this area is the mutual recognition of the AEO status between the EU and Ukraine, which should further boost bilateral cross-border trade.
Any authorized economic operator can obtain certificates for simplified custom procedures, safety and credibility, or both. Such companies will enjoy the benefits of highly simplified customs procedures in addition to a special fast custom line.
The status of authorized economic operators confirms the highest level of trust of the customs authorities in the enterprises.
If you would like more information on tax and customs rules in Ukraine, please feel free to contact us.