To prepare governmental draft Law of Ukraine introducing the following amendments to the Customs Cod…

To prepare governmental draft Law of Ukraine introducing the following amendments to the Customs Code of Ukraine:
1.1. To supplement Paragraph 7 of Article 55 of the Customs Code of Ukraine to ensure that the general rule stating that validity period of guarantees issued by guarantors pursuant to Section X of the Customs Code of Ukraine “…shall not exceed 90 calendar days as of the date of the goods’ release” would not apply to financial guarantees issued in the form of a document.
1.2. To supplement Article 312 of the Customs Code of Ukraine with the provision stating that the validity period of a financial guarantee issued in the form of a document shall not exceed 365 calendar days after release of goods, provided that within 120 calendar days, following adoption of decision on customs value’s adjustment, a declarant would notify customs authority about its disagreement with such a decision.
1.3. To amend Article 314 of the Customs Code of Ukraine in order to harmonize eligibility criteria for parties entitled to grant financial guarantees to secure payment of customs duties with the current European practices (particularly taking into account provisions of Article 27 and Article 28 of the Convention on a Common Transit Procedure EU/EFTA).