Ukrainian President Viktor Yanukovych has vetoed the new version of the Customs Code adopted by the Verkhovna Rada on November 3, 2011.

In his remarks registered in the parliament on December 21, the president proposes postponing the coming of the document into force for a year - until January 1, 2013.

"The adoption of the new Customs Code of Ukraine requires amendments to the Tax Code of Ukraine and other legislative acts, as well as adoption of a large number of statutes and regulations. It is impossible to adopt all required document during the time remaining before the Code comes into force," Yanukovych said.

In addition, the president proposed some amendments, in particular to lower the limit for the duty-free import of goods on the territory of Ukraine by individuals from EUR 1,000 to EUR 500, leaving EUR 1,000 for checkpoints at airports.

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