Verkhovna Rada of Ukraine adopted a bill on e-commerce

The main innovation is the recognition at the legislative level of the electronic transaction, it will have the same legal and financial implications as other types of transactions. Today, deputies of the Verkhovna Rada of Ukraine have adopted as a basis a draft law that specializes in the e-commerce market. The law will regulate the circulation of electronic money and online trading. The bill will be further developed taking into account the wishes of market participants and then it will have to vote in the second reading, writes 8banks .

According to the author of the bill Belkova (ex-managing partner of EastLabs), this bill does not regulate relations in the market as well as it catches up with what the market itself has achieved. In Ukraine, about 17 million people make purchases every year on the Internet, whether it be services or goods. The volume of e-commerce is about $ 2 billion a year, but in reality this figure could be many times more, the deputy noted. The more dynamic development of the market is hampered by the fact that the state does not recognize electronic transactions as written ones.

The draft law describes the principles of the online market, the responsibilities and rights of sellers and buyers, delimits the responsibility of sellers of goods and "intermediate service providers" - the Internet and hosting providers, domain name registrars, and so on. Such concepts as “electronic commerce”, “electronic goods”, “electronic commerce”, “online store”, and “electronic transaction” are fixed at the legislative level.

A separate law regulating the online book market will allow Internet sites to more easily engage in a tax dialogue or understand the courts for those who want to download books for free. at the moment everything is regulated only by the Civil Code. This will greatly simplify the lives of all private traders in the market - both sellers and buyers. When the law is finally adopted, all transactions in the network will be concluded using a “one-time identifier” - an alphanumeric code that is sent to the buyer via any convenient communication channel. Such an identifier will be used to verify the transaction. This bill is part of the Innovative Ukraine program, the next steps should be to simplify the licensing of electronic money, the development of logistics, the opening of customs-licensed warehouses in Ukraine for key international vendors.