• European duties were finally abolished
• In order not to increase tax arrears
• To increase the volume of export-import operations
• It will be more profitable to operate the power tool
• The soul of a lost home

All that happened over the past week in Ukraine and around the world and what is relevant and interesting for the furniture maker, read in our digests :

1. The European Union officially and definitively cancelled all duties on Ukrainian export per year.   

The appropriate solution was published in the official EU journals on Friday. The next day the decision came into force and will remain in force until June 5, 2023. The press secretary of the European Commission stressed that the European Commission welcomes the adoption of these measures by the European Parliament and the Council of the EU as soon as possible.

2. Delays in the fulfilment of monetary obligations by counterparties and the need to cover catastrophic losses due to the war forced businesses to take the initiative to expand the scope of the definition of tax liabilities for value-added tax by the cash method.

The Chairman of the Verkhovna Rada Committee on Finance, Tax and Customs Policy Danylo Hetmantsev initiated an appeal to the Ministry of Finance to consider changes to existing tax policy, which today leads to debt growth.

3. Ukraine and Poland signed a memorandum on development tools assistance trade with an emphasis on providing insurance coverage supply goods and services. We are talking about transport insurance and loads in Polish partners will be to import to Ukraine. In particular, it is perhaps done through the polish export credit KUKE agency.

Thanks to mentioned insurance instruments, Ukrainian businesses will be able to attract the widest possible list of Polish logistics service companies with an increased volume of export and import operations.

4. Pleasant information for handmade wood tool manufacturers and users. Researchers at the Japan Institute of Science and Technology have said they have created a revolutionary material that allows batteries to store up to 95% of their capacity for almost five years. Current rechargeable batteries can lose almost 20% of their capacity in the first year of use.

The new material is called bis-imino-acenaphthequinone-paraphenylene. Its use saves 95% of battery capacity. And all this even after 1700 charging cycles.

5. Ukrainian design and craft debuted on ” LITHUANIAN DESIGN WEEK ”(May 23 – 29). The Ukrainian exhibition “Soul of the House” was presented in Vilnius as part of the only annual design festival in Lithuania. Pop-up corner establishments or in the shopping centre ” PANORAMA “,  each average Lithuanian he had I can to get acquainted with Ukrainian design, decor and art objects. The exhibition “Soul of the House” is a symbol of the loss as a result of the war of the Ukrainian home and the memory of what we had and what necessarily has to be reborn n after our victory.