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LAW OF UKRAINE

of April 16, 1991 No. 959-XII

About foreign economic activity

(The last edition from 21-06-2018)

Supreme Council of Ukraine,

proceeding from provisions of the Constitution (Fundamental law) of Ukraine, the Declaration on the state sovereignty of Ukraine, the Law of Ukraine "About economic independence of Ukraine" and the universally international standards and rules,

considering that one of bases of realization of the state sovereignty of Ukraine is her independence during the implementing and regulation of the external economic relations,

in view of obligations assumed by Ukraine within international treaties of Ukraine and other agreements

wishing all-round development of the economic relations with other states on mutually advantageous basis,

aiming to enter legal regulation of all types of foreign economic activity in Ukraine, including foreign trade, economic, sci-tech cooperation, specialization and cooperation in the field of production, science and technology, commercial ties in the field of construction, transport, forwarding, insurance, settlement, credit and other banking activities, rendering various services,

adopted the Law as follows:

Section I General provisions

Article 1. Determination of terms

In this Law the terms below are used in the following value:

Audit is verification of public accounting records, accounting, source documents and other information on financial and economic activities of subjects of managing for the purpose of determination of reliability of their reporting, accounting, its completeness and compliance to the current legislation and the established standard rates.

Currency means - currency values:

- foreign currency cash,

- payment documents (checks, bills of exchange, bills of exchange, deposit certificates, letters of credit and others) in foreign currency,

- securities (shares, bonds, coupons to them, bonds, bills of exchange and others) in foreign currency,

- gold and other precious metals in the form of ingots, plates and coins, and also certificates, bonds, warrants and other securities which nominal is expressed in gold, gemstones;

Economic activity - any activities, including entrepreneurial, connected with production and exchange of the material and non-material benefits acting in the form of goods;

Dumping - import to customs area of the country of commodity import at the price below the comparative price of similar goods in the country of export which causes damage to national producer of similar goods;

Export (commodity export) - sales of goods the Ukrainian subjects of foreign economic activity to foreign business entities (including with payment in non-cash form) with export or without export of these goods through customs border of Ukraine, including re-export of goods. At the same time the term re-export (re-export of goods) means sale to foreign business entities and export out of limits of Ukraine of the goods which are earlier imported on the territory of Ukraine";

Export (import) of the capital - export out of limits of Ukraine (import because of limits of Ukraine) the capital in any form (currency means, products, services, works, intellectual property rights and other non-property rights) for the purpose of receipt of the income from production and other forms of economic activity;

Foreign economic activity - the activities of business entities of Ukraine and foreign business entities, and also the activities of the state customers of the defense order in the cases determined by the laws of Ukraine constructed on relations between them, taking place both in the territory of Ukraine and beyond its limits;

The external economic agreement (contract) - the arrangement of two or more subjects of foreign economic activity and their foreign partners directed to establishment, change or the termination of their mutual rights and obligations in foreign economic activity;

Import (commodity import) - purchase (including with payment in non-cash form) the Ukrainian subjects of foreign economic activity at foreign business entities of goods with import or without import of these goods to the territory of Ukraine including purchase of the goods intended for own consumption by the organizations and organizations of Ukraine located beyond its limits;

Foreign currency:

- the cash, bank notes (banknotes, treasury notes, coins) which are in circulation and to exchange for the bank notes which are legal means of payment in the territory of the corresponding foreign state, and also withdrawn or withdrawn from circulation, but subject being in circulation

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