Investors in renewable energy are calling on the government to improve taxation conditions for the industry in order to build new power plants.
This was reported by the Ukrainian Wind Energy Association (UWEA).
"Leading industry associations in renewable energy, including the UWEA, have appealed to the Prime Minister of Ukraine, the Minister of Finance, and the Chairman of the Verkhovna Rada Committee on Finance, Taxation and Customs Policy, calling for the regulation of taxation issues for electricity market participants," the message says.
The Association reported that there is significant debt owed to renewable energy producers. In particular, they have received only 79.6% of payments for 2024.
Investors emphasized that in order to resolve the financial problems of the sector amidst a debt crisis, some changes need to be made to tax legislation.
In particular, investors propose continuing the use of the cash method for VAT calculation. This would help avoid additional tax burdens on companies due to delays in payments.
Investors also propose reinstating the provisions of the Tax Code regarding the use of the cash method for calculating income tax for green energy producers. This would contribute to the financial stability of producers who consistently receive less payment for the electricity they supply.
"The proposed changes are critically important for: stabilizing the electricity market, ensuring the financial balance of market participants, and stimulating the development of renewable energy in Ukraine," emphasized the UWEA.
