Normative and legal bases of custom servicing of the public-private partnership
Journal Title: Економіка. Фінанси. Право - Year 2019, Vol 4, Issue
Abstract
In modern conditions of the socio-economic crisis in the country, projects of public-private partnership with the participation of foreign private partners are important for the purpose of attracting foreign investments for the structural development of the state. In the process of launching and implementing such cooperation, the customs servicing has a significant influence, which determines the features of cooperation between foreign business entities and customs authorities to ensure the lawful crossing of the goods across the customs border of the state. Based on a thorough research of the current regulatory framework concerning the customs servicing of public-private partnership, key features in this area were identified. The normative and legal principles of the customs servicing of public-private partnership are regulated by the Law of Ukraine «On Public-Private Partnership», the Customs Code of Ukraine, the Law of Ukraine «On Foreign Economic Activity», the Law of Ukraine «On the foreign investment regime» and other acts. Сooperation between a foreign private partner and the state or local authorities of Ukraine can take place directly or through the creation by a foreign subject of a legal entity in the territory of Ukraine as a private partner for the execution of project tasks, that requires its registration in the national customs authorities. Within the public-private partnership, a foreign private partner carries out activities in the territory of Ukraine under the conditions of the national legal regime of investment and other economic activity. In accordance with the conditions of public-private partnership, a foreign private partner is obligated to make investments in various types (currency of Ukraine or foreign currency, tangible or intangible assets) into objects of such cooperation, located on the territory of Ukraine, on a contractual basis or to the statutory capital of a legal entity. According to the current legislation, customs clearance of foreign investments of a foreign private partner is carried out by the national customs authorities as a matter of priority, while the customs authorities do not register foreign investments. Foreign investments invested by a foreign partner in the form of tangible or intangible assets into the objects of public-private partnership on the territory of Ukraine must be cleared in accordance with the current national legal requirements. Goods imported by a foreign investor to the territory of Ukraine within the public-private partnership for a term of at least three years on a contractual basis or in the form of a contribution to the statutory capital of the object of public-private partnership, are exempted from payment of import duties.
Authors and Affiliations
Hanna Omelianivna Komarnytska
Keywords
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