On 25.09.2015 Verkhovna Rada of Ukraine registered the Draft Law № 3180 «On Amendments Introduction to Subparagraph "B" of Paragraph 193.1, Article 193 of the Tax Code of Ukraine (On Facilitation of Supply for Health Care Institutions and Citizens with Affordable Medicinal Products)».
The draft law provides for setting a 7% VAT rate (instead of existing 20%) for the supply of medicinal products being produced by the pharmacies in accordance with physicians’ prescriptions and orders from medical preventive institutions.
Please note that according to the current edition of article 193 of the Tax Code of Ukraine the 7% VAT rate is set only for the supply of medicinal products allowed for production and usage in Ukraine and those included into State Register of Medicinal Products, as well as those from the list approved by the cabinet of Ministers of Ukraine. In other words, taking into account that medicinal products produced by the pharmacies are not subject to state registration, the legislator denied the opportunity to apply to them the reduced tax rate.
It is expected that adoption of this draft law shall decrease the expenditures for purchasing of medicinal products by the citizens and shall lower the budget expenses for procurement of medicinal products being produced under pharmacies conditions by medical preventive institutions which are not foreseen by the cost estimations of medical institutions.
In other words, the implementation of the draft law shall on the whole positively impact public and private consumers.
Currently the draft law is submitted for review by the Members of Parliament.
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