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Ukraine introduces duty on export of unprocessed stone
An export duty on unprocessed natural stone has been introduced in Ukraine. The relevant law was signed by President Volodymyr Zelensky.
The new rate will be 300 euros per tonne of raw material. The duty will remain in force for 10 years and will apply, among other things, to granite, labradorite and gabbro.
According to estimates, revenue from the new levy could amount to nearly 500 million hryvnia annually for the state budget.
The changes concern the export of Ukrainian natural stone without prior processing. The introduction of the duty is expected to affect the terms of sale of such raw material in external markets.
The National Association of the Mining Industry notes that one of the directions for the development of the sector is to increase the share of products with added value and to expand stone processing in Ukraine.
According to data provided by the association, previously one square metre of Ukrainian labradorite could be exported for approximately 10 dollars. After processing, the value of similar material on the global market could reach around 950 dollars per square metre.
Thus, the new rules specifically concern unprocessed raw material exported outside Ukraine.
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