Ukraine: Introduces a value-added tax exemption
In a statement on January 8, 2014, Ukrainian Prime Minister confirmed that he had ordered the preparation of draft legislation to amend the country's tax code to lower the cost of natural gas for consumers. The price for consumers will be reduced by
See MoreUkraine: Rates and Accounting rules for Tax 2014
On 19 December 2013, the Verkhovna Rada of Ukraine passed Law No. 3757 that introduce tax rates and tax accounting rules for 2014. The corporate income tax rate is reduced to 18% (from 19%) with further decreases to 17% (beginning 1 January 2015)
See MoreIMF recommends that Ukraine postpone its plan to implement lower tax rates in 2014
According to a Ukrainian government press release issued on 28 October 2013, delegates from the International Monetary Fund (IMF) have recommended that Ukraine postpone its plan to implement lower value-added tax rates and income tax rates in 2014.
See MoreUkraine withdraws VAT cut plans
Ukraine had previously planned to decrease its VAT rate along with lowering its corporation tax rate. However since Ukraine is struggling with a weak economy, the government is now considering shelving plans to cut corporate tax and VAT next year to
See MoreCyprus and Ukraine finalize the procedures to bring new treaty into force
The Inland Revenue Department of the Ministry of Finance of Cyprus issued Circular No. 2013/16 on 23 September 2013, expressing that Cyprus and Ukraine have both completed all the procedures required to bring into force the new Double Tax Treaty
See MoreUkraine: Cabinet Authorizes Signing of Double Tax Agreement with Sri Lanka
Ukraine’s Cabinet of Ministers approved on 18 September 2013 the signing of a draft agreement for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income and capital with Sri Lanka. They have authorized
See MoreTax treaty between Malta and Ukraine signed
Malta and Ukraine signed an income tax treaty on 4 September 2013. The treaty is expected to contribute to developing trade and economic relations between the two countries. The signing of this treaty is also in line with Ukraine’s policy of
See MoreUkraine: New transfer pricing rules
A law “On the Amendments to the Tax Code of Ukraine Regarding Transfer Pricing” passed its second and final reading on 4 July 2013 and was adopted by the Ukrainian Parliament. This legislation will become effective from 1 September
See MoreUkraine and Malta to sign double tax convention
The governments of Ukraine and Malta are intending sign a convention on the avoidance of double taxation and the prevention of tax evasion. It approved by Ukraine’s Cabinet of Ministers on July 24, 2013. Under the draft convention, the withholding
See MoreUkraine: penalty for failure to submit a controlled transaction report
From 1st September 2013, under the new transfer pricing law introduced in Ukraine, certain transactions between related and unrelated parties will be subject to the arm’s length principle and will be treated as controlled transactions under the
See MoreUkraine: Related-Party information returns to file with APA requests
The transfer pricing rules introduced by Ukraine from 1 January 2013 provide for the possibility of negotiating advance pricing agreements with the tax authorities. The Ukraine Ministry of Finance has approved an information form concerning related
See MoreUkraine: Draft Law amendments regarding the formation of a tax group
Draft Law No. 2737 introduces amendments regarding the formation of a tax group. On 5 April 2013, amendments to the Tax Code were sent to be approved by the parliament. The legislation will allow companies in Ukraine to form a consolidated tax group
See MoreUkraine: New transfer pricing law
A transfer pricing Bill to amend the legislation with regard to transfer pricing and introduce best practice was registered with parliament on 12 March 2013. The Tax and Customs Committee of parliament has confirmed that the Transfer Pricing Bill
See MoreTreaty between Ireland and Ukraine signed
Ireland and Ukraine signed a Double Tax Agreement on 19 April 2013. This DTA represents an important step in boosting trade relations between Ireland and Ukraine. The treaty will enter into force when the relevant ratification procedures have been
See MoreIncome and Capital Tax Treaty between Saudi Arabia and Ukraine
To build tax cooperation, Saudi Arabia and Ukraine signed an Income and Capital Tax Treaty on 2 September 2011 which enters into force on 1 December 2012. The treaty will be effective from 1Â January 2013. According to the treaty the default tax
See MoreUkraine: Proposed amendments to the Tax Code
The following proposed tax rates will be increased:Â excise tax, vehicle registration charges, payment for subsoil use (if with a purpose other than extraction of minerals), ecological tax and charges for the use of radio frequency resources. The
See MoreMexico’s new DTAs with Lithuania and Ukraine
Mexico’s new double taxation agreement (DTAs) with Lithuania and the Ukraine will enter into force on November 29, 2012, and December 6, 2012,
See MoreUkraine and Cyprus signed a Protocol to amend their DTA
On November 7, 2012, Ukraine and Cyprus signed a Protocol to amend their double taxation agreement
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