LAW OF UKRAINE

of June 21, 2012 No. 5007-VI

About the prices and pricing

This Law determines the basic principles of price policy and governs the relations arising in the course of forming, establishment and use of the prices, and also implementation of the state control (supervision) and observation in the field of pricing.

Section I General provisions

Article 1. Determination of terms

1. In this Law terms are used in such value:

1) price fixation - approval (fixation) of level of the price;

Marginal 2) price - as much as possible or minimum admissible level of the price which can be applied by the subject of managing;

3) declaring of the change in price and/or registration of the price - informing managing by the subject in accordance with the established procedure bodies of state regulation and control (supervision) and observation in the field of pricing about intentions of establishment and use of the price differing from current;

4) surcharge - increase in the price of goods by the producer (supplier) during its sale (realization);

5) use of the price - sale (realization) of goods on stated price;

6) discount (the reducing coefficient) - reduction of the price of goods by the producer (supplier) during its sale (realization);

7) the standard rate of profitability - the level of profitability which is determined by the subject of managing during pricing. The limiting standard rate of profitability is its most admissible level which shall be considered by the subject of managing during price fixation of goods;

8) the deliverable and sales allowance (deliverable remuneration) - expense amount of the subject of managing which are connected with the address of goods and are performed in the course of its sale (realization) during receipt from the producer (supplier) on the corresponding goods market, and arrived. The limiting deliverable and sales allowance is its most admissible level which shall be considered by the subject of managing performing wholesale trade during price fixation of goods;

9) sale (realization) - economic activity during which exchange of goods for the equivalent expressed in cash or other type of compensation of its cost is performed;

10) goods - products, works, services, the material resources, the property and non-property rights which are subject to sale (realization);

11) the goods market - the sphere of turnover of goods (interchangeable goods);

12) the trade allowance (markup) - expense amount of the subject of managing which are connected with the address of goods and are performed in the course of its sale (realization) in retail trade, and arrived. The limiting trade allowance (markup) is its most admissible level which shall be considered by the subject of managing during sales of goods in retail trade;

13) fixed price - the price, obligatory for application by subjects of managing, established by the Cabinet of Ministers of Ukraine, executive bodies and the state collegiate organs or local government bodies according to their powers and competences;

14) pricing - the mechanism of determination of level of the price of goods;

15) the price - the commodity unit equivalent expressed in cash;

16) pricing - process of forming and price fixation.

Article 2. Coverage of this Law

1. Operation of this Law extends to the relations arising in the course of forming, establishment and use of the prices by the Cabinet of Ministers of Ukraine, the executive bodies, bodies performing state regulation of activities of subjects of natural monopolies, local government bodies and subjects of managing which carry out activities in the territory of Ukraine, and also implementation of the state control (supervision) and observation in the field of pricing. Operation of this Law does not extend to establishment of rates for medical services and medicines within the program of medical guarantees according to the Law of Ukraine "About the state financial guarantees of medical attendance of the population.

Article 3. Legislation on the prices and pricing

1. The legislation on the prices and pricing is based on the Constitution of Ukraine and consists of the Civil code of Ukraine, the Economic code of Ukraine, the Tax code of Ukraine, the laws of Ukraine "About natural monopolies", "About protection of the economic competition", this Law and other regulatory legal acts.

Section II State price policy

Article 4. Main directions of the state price policy

1. The state price policy is component of the state economic and social policy and is aimed at providing:

1) developments of national economy and business activity;

2) counteractions to abuse of the monopoly (dominating) position in the field of pricing;

3) expansions of scope of free prices;

4) balances of commodity market and increase in their quality;

5) social guarantees to the population in case of increase in prices;

6) necessary economic guarantees for producers;

7) orientations of the prices of the domestic market of goods to the price level of the world market.

Article 5. Powers of the Cabinet of Ministers of Ukraine in the field of pricing

1. Cabinet of Ministers of Ukraine:

1) is provided by carrying out the state price policy;

2) is performed by state regulation of the prices, determines powers of executive bodies concerning forming, establishment and use of the prices if other is not defined by the law or the international treaty of Ukraine which consent to be bound is provided by the Verkhovna Rada of Ukraine;

3) is determined by the inventory, the state regulated prices of whom affirm relevant organs of the executive authority if other is not determined by the law.

Article 6. Powers of local government bodies in the field of pricing

1. Local government bodies provide realization of the state price policy within the powers determined by the law.

Article 7. Public administration in the field of pricing

1. Realization of the state price policy, carrying out the economic analysis of level and price performance, development and introduction of offers, concerning forming and realization of the state price policy are performed by the central executive body realizing the state price policy.

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