Ukraine expands tax deductions for charitable contributions
Ukraine has increased the corporate tax deduction limit for charitable donations from 4% to 8% of a company’s taxable profit from the previous year. The change took effect on 16 March 2025 under Law No. 12328-d and will remain in place until
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Germany updates CbC Report exchange list, adds four new jurisdictions
The German Official Gazette (Bundesgesetzblatt) No. 64 published the Seventh Regulation Amending the Country-by-Country (CbC) Report Extension Regulation on 11 March 2025. This update revises the list of jurisdictions participating in the
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Ukraine: Central Bank raises key policy rate
The Board of the National Bank of Ukraine (NBU) has decided to raise the key policy rate from 14.5% to 15.5% per annum and to adjust the operational framework parameters of its interest rate policy. The key policy rate is applied to calculate
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Ukraine raises interest rate, increasing late payment penalties
The National Bank of Ukraine has announced it will raise the key policy rate from 14.5% to 15.5% per annum, effective 7 March 2025. For tax purposes, this impacts the late payment penalty interest, which is 120% of the National Bank rate. This
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Japan: Cabinet approves new tax treaty with Ukraine
The Japanese Cabinet has given its approval to a new income tax treaty with Ukraine on 25 February 2025. The agreement, announced by Japan’s Ministry of Finance, replaces the 1986 treaty between Japan and the former Soviet Union. The new
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Ukraine: Parliament passes amendments to MLI ratification law
Ukraine’sparliament (Verkhovna Rada) approved Law No. 0293 on 27 February 2025. This law amends Article 1 of the ratification law for the Multilateral Convention to Implement Tax Treaty-Related Measures to Prevent BEPS (MLI). Other key
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Japan, Ukraine sign new income tax treaty
Japan and Ukraine signed a new tax treaty in Tokyo to prevent double taxation and tax evasion on 19 February 2025. The agreement, announced by Japan’s Ministry of Finance, replaces the 1986 treaty between Japan and the former Soviet
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Ukraine updates fines for certain transfer pricing reporting violations
The State Tax Service of Ukraine issued a notice on fines for specific transfer pricing reporting violations on 5 February 2025. A penalty of 100 subsistence minimums is imposed for not submitting the notification of participation in an
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Czech Republic gazettes tax break extension for Ukraine donations
The Czech Republic has published Law 24/2025 in the Official Gazette on 10 February 2025, a legislation that extends the enhanced tax deduction for donations sent to Ukraine. Under Law 24/2025, individuals and corporations can deduct up to 30% of
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Ukraine revises tax haven list in Resolution
The Ukrainian Ministry of Finance issued Resolution No. 1505 on 4 February 2025 , revising the list of tax havens for transfer pricing purposes. List of states (territories) that meet the criteria established by subparagraph 39.2.1.2 of
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Ukraine, Egypt show interest in updating tax agreement
Ukraine’s Minister of Agrarian Policy and Food, Vitalii Koval, held a meeting with Ahmed Kuchuk, Egypt’s Minister of Finance. This announcement was made by the Ministry of Agrarian Policy and Food of Ukraine on 3 February 2025. The
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Czech Republic: Senate approves extended tax breaks for Ukraine donations
The Czech Republic Senate has passed a new legislation to expand the tax deductibility of donations to Ukraine. Once enacted, the law will allow individuals and corporations to deduct up to 30% of the value of their donations, an increase from the
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Ukraine raises key interest rate to 14.5%
The National Bank of Ukraine has announced, on 23 January 2025, to raise the key policy rate from 13.5% to 14.5%, effective 24 January 2025. This decision is aimed at maintaining the stability of the foreign exchange market, keeping inflation
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Ukraine updates transfer pricing rules for related parties, controlled transactions
The State Tax Service of Ukraine has announced changes to the transfer pricing rules concerning the identification of related parties and controlled transactions on 31 December 2024. Changes to the Tax Code of Ukraine came into force regarding
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Ukraine releases synthesised texts of tax treaties with Slovenia, Vietnam
Ukraine's Ministry of Finance has published synthesised texts of its tax treaties with Slovenia and Vietnam, incorporating changes from the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting
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Ukraine suspends CFC reporting fines during martial law
Ukraine’s president, Volodymyr Zelensky has signed Law No. 9319 on 25 December 2024 which postpones a new military tax hike for small businesses and individual taxpayers until 1 January 2025. Under this law, Ukrainian residents will not be fined
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Ukraine: The National Bank increases interest rate affecting late payment penalty interest
The Board of the National Bank of Ukraine has decided to raise the key policy rate to 13.5% annually. This decision aims to maintain the stability of the currency market, control inflation expectations, and gradually reduce inflation to the target
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Ukraine raises tax on banks, financial institutions
Ukraine has signed Law 4015-IX (The Law on Amendments to the Tax Code of Ukraine and Other Laws of Ukraine to Ensure the Balance of Budget Revenues during Martial Law) into law on 28 November 2024. One key provision of this new law is the increased
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