Ukraine moved a step forward into the digital future when parliament passed a new law to encourage e-commerce on Sept. 3. The measure won with 235 votes.
The volume of Ukraine’s e-commerce sector is nearly $3 billion, according to easybusiness.in.ua and includes more than 100 companies and thousands of employees. This is only 2 percent out of the general retail industry volume, but the forecast is for it to grow to more than $8 billion in 2018.
The law, expected to be signed by President Petro Poroshenko, will guarantee that all buying and selling online made through electronic payment systems will have the same legislative status as paper deals.
The electronic merchants will be obliged to issue confirmation of electronic purchases in the form of electronic receipts. In courts, tax offices and other governmental branches, this documentation will grant them the same legislative status as confirmation of a commercial deal on paper.
Almost 10 percent of Ukraine’s Internet users are buying online and the law on e-commerce finally guarantees that the rights of online buyers will be secured by the law on consumers’ rights protection.
The business-to-client relations must get easier too with the law enforcement, as electronic signature from now on will have the same legal status as physical signature.
Amid the core changes, the law also gives definitions to such terms as electronic commerce, electronic goods, electronic commercial message, informational commercial services, electronic signature and others.
Olha Belkova, the member of Petro Poroshenko’s Bloc and the former managing partner of East Labs Business Accelerator, has authored the bill in 2013. The law passed its first reading in June 2014 and now, after it gets signed by the President, it will enter into force.
Kyiv Post staff writer Bozhena Sheremeta can be reached at [email protected]. The Kyiv Post’s IT coverage is sponsored by AVentures Capital, Ciklum, FISON and SoftServe.
