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Förderung von Großinvestitionen in der Ukraine

28.01.2021, Mehr ›››

Recht der Internationalen Wirtschaft: Länderreport Ukraine

16.11.2020, Mehr ›››

Lebensmittelmarkt in der Ukraine: Absatzmarkt mit Investitions­möglichkeiten für deutsche Unternehmen

11.11.2020, Mehr ›››

Steuerreform in der Ukraine 2020

05.06.2020, Mehr ›››

Gesetz über Finanzüberwachung (Geldwäsche) in Kraft

05.05.2020, Mehr ›››

Neue Anforderungen an die Offenlegung der Angaben über wirtschaftliche Eigentümer

22.04.2020, Mehr ›››

Änderungen der arbeitsrechtlichen Regelungen in Zeiten des Coronavirus

14.04.2020, Mehr ›››

Steuerliche Erleichterungen und andere Gesetzesänderungen in Zeiten von Covid-19

06.04.2020, Mehr ›››

ereinfachtes Verfahren für den Erhalt des Force Majeure-Zertifikates

06.04.2020, Mehr ›››

Erneuerbare Energien in der Ukraine (Stand 2020)

17.03.2020, Mehr ›››

Tax Reform 2020 in Ukraine – Overview of Changes in International Taxation

On May 23, 2020, the Law of Ukraine No. 466-IX of 16 January 2020 on enhancement of tax administration, removal of technical and logical inconsistencies in tax legislation became effective. This law introduced many changes to the provisions of the Tax Code of Ukraine (Tax Code) related to international taxation. The overview of the key changes is provided below.

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COVID-19: Invoking Force Majeure

The worldwide pandemic of COVID-19 forced many governments to introduce unprecedented restrictions for people and businesses to prevent spreading of the virus. Ukraine is not an exception. On 12th of March 2020, a quarantine was introduced in Ukraine followed by closing of the borders for foreign citizens. Due to these measures, many businesses cannot perform their contractual obligations as planned. In such circumstances, invoking force majeure may not only facilitate extension of the time of obligations performance, but also help to defend against possible penalties.

In view of the difficult situation for many businesses, the Chamber of Commerce and Industry of Ukraine has recently simplified the procedure for issuance of a certificate confirming occurrence of a force majeure event. Under such simplified procedure, an interested party should submit the following documents:

  • standard application;
  • copy of agreement or contract;
  • copy of internal company resolution on suspension of activity pursuant to relevant laws and regulations;
  • notification to the other party.

The documents may be submitted in electronic form on the following e-mail address: ucci@ucci.org.ua.

It should be noted that the quarantine or other restrictive measures do not automatically release a contract party from performance of contractual obligations. For instance, a quarantine is not an excuse for the failure to pay for delivered goods or rendered services. If, however, a contract party cannot deliver the goods or perform the works due to quarantine, this may be justified by a force majeure event. In this case, the certificate of the Chamber of Commerce and Industry of Ukraine serves as an evidence which can be relied upon by the affected party.

For more details or assistance in obtaining certificate of the Chamber of Commerce and Industry of Ukraine please contact Rödl & Partner Team.

 

 

 

Ukrainian Parliament ratifies Protocol amending Convention on Avoiding Double Taxation with Switzerland

On September 18, 2019, Ukrainian Parliament ratified the protocol to the Convention for the Avoidance of Double Taxation with respect to Taxes on Income and Capital. The protocol introduces many changes to the Convention that will have significant impact on the taxpayers in both countries. The key changes are the following.

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Application of Transfer Pricing Rules to Transactions between a Non-resident and its Permanent Establishment in Ukraine

From January 1, 2018, transfer pricing rules apply to transactions between non-residents and their permanent establishments in Ukraine. The main points which permanent establishments of nonresidents should take into account to mitigate tax risks are summarized below.

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Ukrainian Government reduces the List of Low-Tax Countries

On March 07, 2018, the changes to the list of low-tax countries approved by Resolution of the Cabinet of Ministers of Ukraine No. 1045 of 27 December 2017 became effective. Five countries, namely Estonia, Latvia, Malta, Georgia and Hungary were deleted from the list.

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Ukraine and the Netherlands sign Protocol amending Double Tax Treaty

On March 12, 2018, Finance Minister of Ukraine and State Secretary for Finance of the Netherlands have signed a protocol amending Convention between the Netherlands and Ukraine for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and on Property signed on October 24, 1995.

According to the information published on the official web site of the Ministry of Finance of Ukraine, the protocol introduces the following changes to the Double Tax Treaty:

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Problem of debt collection under foreign trade agreement in foreign currency

Foreign companies delivering goods / services to the territory of Ukraine sometimes face situations where Ukrainian counterparts refuse to pay the cost of such goods / services, as a result foreign companies are ought to file a lawsuit at court.

Unfortunately, a positive court decision on debt collection from a Ukrainian debtor is not a guarantee of a quick return of debt to foreign company.

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CHANGES IN THE TAX LEGISLATION OF UKRAINE EFFECTIVE FROM 01.01.2018

On January 1, 2018, the Law of Ukraine "On Amendments to the Tax Code of Ukraine and Certain Legislative Acts of Ukraine Regarding Securing of Budget Revenues in 2018" № 2245-VIII dated 07.12.2017 has entered into force. The overview of main changes in the tax legislation effective from January 1, 2018 is provided below.  

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Changes in Ukrainian Transfer Pricing Rules from January 1, 2018

At the very end of 2017 the Parliament and the Government of Ukraine have passed many legislative changes which became effective from January 1, 2018. The key changes in the transfer pricing area are the following.

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Changes in Ukrainian accounting rules, drawing up and disclosure of financial statements

On October 30, 2017, the President of Ukraine signed the Law of Ukraine No 2164-VIII of October 5, 2017 "On Amendment of the Law of Ukraine "On Accounting and Financial Reporting in Ukraine" (On Improvement of Certain Provisions)", which brings Ukrainian accounting and financial reporting rules in accordance with EU standards, in particular with the provisions of Directive 2013/34/E. The most significant changes are addressed below.

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Easing the procedure for obtaining work and residence permits for foreigners in Ukraine

On 27 September 2017 the Law "On Amendments to Some Legislative Acts of Ukraine on Eliminating Barriers to Attracting Foreign Investments" (hereinafter - the "Law") came into force.

One of the main objectives of the Law is to improve and simplify the procedure for obtaining work permits for expatriates and stateless persons as well as the procedure for obtaining a temporary residence permit in Ukraine.

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The List of Legal Forms of Non-Residents for Ukrainian Transfer Pricing Purposes Entered into Force

On July 27, 2017, the Resolution of Cabinet of Ministers of Ukraine No 480 of July 4, 2017 came into force. The Resolution No 480 contains a list of legal forms of non-residents transactions with which are considered as controlled transactions for transfer pricing purposes. The adoption of this list can affect many taxpayers who have not dealt with transfer pricing rules before.

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Ukrainian Parliament Ratified Tax Treaties with Luxembourg and Malta

In March and April of 2017, Ukrainian Parliament has ratified double tax treaties with Luxembourg (signed on 06.09.1997) and Malta (signed on 04.09.2013). The tax treaty with Luxembourg has been ratified after renegotiation of the treaty terms and signing in late 2016 of the protocol amending the treaty. Both tax treaties may be expected to apply from January 01, 2018, if the exchanges of diplomatic notifications are completed in 2017.

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