On May 26, the Verkhovna Rada voted on draft law No. 12360 — amendments to the Customs Code that were supposed to introduce 20% VAT on international parcels worth up to 150 euros. In the repeat second reading, 222 deputies voted in favor instead of the required 226. As MP Yaroslav Zheleznyak reported, none of the 11 amendments received support, and the document was rejected in its entirety.
This very vote was supposed to be the "beacon" of the IMF program — a structural condition without which the next tranche is not paid out. But after two weeks of negotiations, the fund chose a different path.
What was agreed upon
According to RBC-Ukraine citing sources familiar with the results of the IMF mission in Kyiv, the fund agreed to move the deadline for passing the law to the end of July — thereby removing the immediate threat to the disbursement. According to Bloomberg, the parties reached a staff-level agreement, which opens the way for Ukraine to receive almost 686–700 million dollars. An official announcement was expected by June 12, but the final decision requires approval by the IMF Board of Directors in July.
This is already the second concession by the fund within the current program: previously, the IMF also postponed the VAT requirement for certain groups of self-employed individuals.
"Until the beacons are met, no one will give a kopeck. To be honest, I don't understand this irresponsibility at all."
Economist Oleg Pendzyn — on the risks of non-compliance with IMF conditions, UNIAN
What is at stake
An IMF tranche is not an isolated payment. The EU, as part of a 90 billion euro credit, tied part of its payments to conditions that align with the fund's requirements, including the tax on parcels. According to Espreso, the first EU payment is expected this month — and its conditions directly depend on whether the Rada fulfills its obligations by the end of July.
The draft law provided for maintaining the benefit only for parcels up to 45 euros. For shipments from 45 to 150 euros — 20% VAT, over 150 euros — VAT plus 10% duty on the amount exceeding 150 euros. CES economist Maksym Samoyliuk reminds that of four commitments signed by the president, prime minister, and finance minister, only one has been fulfilled — the introduction of a permanent 5% military levy. The "OLX tax," VAT for self-employed individuals, and parcel VAT remain unfulfilled.
Why the Rada did not vote
According to Zheleznyak, the opposition supported passing a proper law, but deputies from the "Servant of the People" party first blocked the adoption of the basic text, and then failed to gather votes even for the repeat reading with amendments. The draft law proved too unpopular: millions of Ukrainians regularly receive parcels from Temu, AliExpress, and other platforms, and 20% VAT is perceived as a direct blow to the pocket during wartime.
The IMF, according to Bloomberg, understood this context and agreed to the postponement, recognizing that additional time was needed to gather votes. The next program review is scheduled for September.
If the Verkhovna Rada does not pass the law by the end of July, the IMF will have grounds to freeze not just one tranche, but also further program review with a total volume of 8.1 billion dollars, and then the issue will no longer be about parcels from Temu, but about the state's ability to finance the budget under wartime conditions at all.
