LAW OF UKRAINE

of April 16, 1991 No. 959-XII

About foreign economic activity

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

- payment documents in monetary units of foreign states and the international units of account,

- means in monetary units of foreign states, the international units of account and in the currency operating in the territory of Ukraine with free conversion, being on accounts and deposits in bank credit institutes in the territory of Ukraine and beyond its limits;

Foreign investments - all types of property and intellectual values put by foreign business entities in Ukraine therefore the profit (income) is formed or the social effect is reached;

Foreign business entities - the business entities having the permanent location or the permanent residence outside Ukraine;

Quotas (contingents) global - the quotas established on goods (goods) without specifying of the specific countries (groups of the countries) where the goods (goods) are exported or from which it (they) is imported;

Quotas (contingents) group - the quotas established on goods (goods) with determination of group of the countries where the goods (goods) are exported or from which it (they) is imported;

The export quota (import) - limiting amount of certain type of goods which is authorized for exporting from the territory of Ukraine (to import on the territory of Ukraine) during fixed term and which is determined in physical or cost units;

Quotas (contingents) individual - the quotas established on goods (goods) with determination of the specific country where the goods (goods) can be exported or from which it (they) can be imported;

Quotas special - limiting import volume to Ukraine of the certain goods (goods) which are object of special investigation and/or special measures which is authorized for importing to Ukraine during fixed term and which is determined in natural and/or cost units of measure;

The special license - properly drawn up right to import to Ukraine during fixed term of the certain goods (goods) which are object of special investigation and/or special measures;

The open license (individual) - the import permit (import) of goods during the certain period of time (but at least one month) with determination of its total amount;

The general license - open permission to export (import) transactions on certain goods (goods) and/or with certain country (group of the countries) during the period of action of the mode of licensing on these goods (goods);

The export certificate (import) - properly the drawn-up right to export (import) during fixed term of certain goods or currency means for the purpose of investments and crediting;

The one-time license (individual) - the one-time permission having personalized nature and issued for implementation of each separate transaction by the specific subject of foreign economic activity for the period is at least necessary for implementation of export (import) transaction;

Customs regulation - regulation of the questions connected with establishment of duties and other taxes which are collected when moving goods through customs border of Ukraine, procedures of customs control, the organization of activities of bodies of customs control of Ukraine;

The international cooperation - interaction of two or more business entities among which at least one is foreign in case of which joint development or coproduction, joint realization of end products and other goods on the basis of specialization in production of intermediate products (details, nodes, materials, and also the equipment used in complex deliveries) or specializations at separate technology stages (functions) of research works, productions and realization with coordination of appropriate programs of economic activity is performed;

The moment of implementation of the export (import) contract - the moment to which all obligations under the specified contract, including execution of bills of exchange (bills of exchange) or the conclusion of credit agreements are performed;

The moment of implementation of export (import) - the crossing moment goods of customs border of Ukraine or transition of the property right to the specified goods exported or imported from the seller to the buyer;

Moral damage - damage which is caused to the personal non-property rights of subjects of foreign economic activity and which brought or can lead to the losses having material expression;

Restrictive business practice - implementation of the individual or collective measures directed to restriction of the competition and monopolization of production, distribution, exchange, consumption of goods and receipt of excess profits;

Transfer of currency means out of limits of Ukraine - transfer of cash (currency) means in advantage (into the account) foreign business entity or in the bank credit institute which is not business entity of Ukraine;

Preliminary import deposits - introduction by subjects of foreign economic activity into interest-free accounts in the banks servicing them in the territory of Ukraine for the moment of the introduction of the agreements (contracts) signed by them in legal force until passing by goods delivered according to the specified agreements (contracts) through customs border of Ukraine or transfer of goods by foreign business entities in the territory of Ukraine, money in contract currency (contract) in the amount determined in the established percent to the cost of the relevant agreement (contract);

The permanent location - the location officially the registered principal organ of management (office) of the subject of economic (external economic) activity;

The permanent residence - the residence in the territory of any state at least one year of the physical person which does not have the permanent residence in the territory of other states and intending to live in the territory of this state during unrestricted term without limiting such accommodation to particular purpose and provided that such accommodation is not consequence of execution by this person of service duties or agreement obligations (contract);

Representative office of foreign business entity - the organization or person which is representing the interests of foreign business entity in Ukraine and having on it properly the drawn-up appropriate authority;

Special economic zone - the territory within which the special legal regime of economic activity and special procedure for application and operation of the legislation of Ukraine is set and is effective with the relevant law of Ukraine;

Joint business (economic) activity - the activities which are based on cooperation between business entities of Ukraine and foreign business entities and on joint distribution of results and risks from its implementation;

Joint businesses - the companies which are based on the joint capital of business entities of Ukraine and or foreign business entities on joint management and on joint distribution of results and risks;

Goods - any products, services, works, intellectual property rights and other property rights, held for sale (paid transfer);

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