The draft law No. 3851 “On Amendments to the Tax Code of Ukraine
on State Support of Culture, Tourism and Creative Industries” was adopted
today.
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The bill introduces for the first time the concept of ‘cultural grant’ – material assistance that will be provided free of charge for the implementation of projects and programs in the area of culture, tourism and in the creative industries sector.
The bill sets a reduced value added tax rate of 7% to stimulate demand and expand the availability of socially important services. The same reduced rate will apply to the public screening of films adapted in accordance with the law into Ukrainian-language versions for the visually impaired and the hearing impaired. It is also an important step for the inclusion of people with disabilities. The bill applies the same reduced VAT rate of 7% indefinitely to hotel accommodation service providers.
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