Schemes of 'black' grain — Hetmanцев named how much the country is losing.

The head of the Financial Committee of the Verkhovna Rada, Danilo Hetmanцев, reported that the government is losing billions of hryvnias due to schemes involving 'black' grain. According to him, companies that buy grain for cash export it abroad using fictitious documents.

Hetmanцев made this statement on his Youtube channel.

Losses from illegal grain trade

'Black companies buy grain for cash and export it beyond the country's borders using fictitious documents', emphasized Hetmanцев.

He explained that some batches of grain are documented as mixtures or waste, thus avoiding tax payments. This leads to a loss of foreign currency revenue for Ukraine.

The government has been taking action to counter these schemes since the end of last year. Hetmanцев explained that the measures taken include:

• mandatory registration for VAT payers for all grain exporters;
• introduction of an export supply regime that limits export volumes to the size of the tax credit;
• increased efforts against transfer pricing to avoid tax evasion through undervaluation of grain prices.

Through these measures, illegal exports of Ukrainian grain worth 2 billion hryvnias were halted during the first months of the year.

Additionally, the adoption of the anti-offshore law and the opening of the land market are helping to legalize previously 'black' cultivated land.

Sources of the 'black' grain market

Hetmanцев named two main sources of the 'black' grain market:

• illegal use of state land, which is cultivated without proper permits;
• business entities with small areas that evade registration as farmers.

Cooperation between law enforcement agencies, customs officers, and tax authorities should help address the problem of the 'black' grain market.

'I believe there is little time left for the grain market in Ukraine to become more legitimate. We have the opportunity to become one of the leading grain exporters in the world and provide significant revenue to the state budget', he concluded.

Earlier, reasons for expected declines in corn yields in Ukraine were revealed. The possible rise in prices for soybeans and rapeseed in the country is also being discussed.

The presented excerpt informs about significant losses for the state due to illegal grain trade. The head of the financial committee talked about the schemes used by companies to evade tax payments and deceive the government. The government is taking steps to combat these phenomena to make the grain market in Ukraine more civilized and legal. Step-by-step actions and control mechanisms have already shown positive results in minimizing illegal grain exports. Further actions and cooperation between agencies will contribute to resolving this issue and creating a more stable and healthy market for grain crops in Ukraine.