Ukraine: National Bank increases the interest rate from January 2022
On 20 January 2022, the National Bank of Ukraine has decided to increase its key policy rate from 9% to 10% per annum with effect from 21 January 2022. The interest rate has a tax effect on the late tax payment interest and penalties
See MoreUkraine: Government approves amendments to the law ratifying the BEPS MLI
On 29 December 2021, the Ukraine Ministry of Finance has announced that the Government has approved amendments to the law ratifying the tax treaty related measures to prevent Base Erosion and Profit Shifting (MLI). BEPS MLI entered into force with
See MoreUkraine: STS provides main provisions on amendments to the Tax Code
On 24 December 2021, the State Tax Service (STS) has issued a press release providing the main provisions of the Law No. 1914 of 30 November 2021 “On amendments to the Tax Code of Ukraine and other legislative acts of Ukraine to ensure the
See MoreUkraine: President signs law on tax incentives for the IT industry
On 20 December 2021, the President of Ukraine has signed Law No. 1946-IX providing ‘Diia City’ resident IT companies special tax and legal regime from 2022. This will come into force at the end of January 2022. The Law provides for a number
See MoreUkraine: National Bank increases the interest rate from December 2021
On 9 December 2021, the National Bank of Ukraine has decided to increase its key policy rate from 8.5% to 9% per annum with effect from 10 December 2021. The interest rate has a tax effect on the late tax payment interest and penalties which is
See MoreUkraine increases thresholds of criminal liability for tax evasion
On 17 November 2021, Ukraine has published Law No. 1888-IX in the Official Gazette increasing thresholds of criminal liability for tax evasion. The changes are applicable from 25 November 2021. The new fines are given below: EvasionPrevious
See MoreUkraine: Cabinet of Ministers adopts new APA procedures
On 28 October 2021, the Cabinet of Ministers of Ukraine has adopted new procedures of preliminary coordination of advance pricing agreements (APAs) in controlled transactions, as a result of which agreements on preliminary coordination of pricing,
See MoreUkraine: SFS clarifies PE rule for non-residents for tax purposes
On 12 October 2021, the Ukrainian State Fiscal Service (SFS) has clarified that a non-resident company considers as a permanent establishment (PE) if the company enters into agreements and carries out economic activities in Ukraine on its own
See MoreUkraine: STS clarifies about taxation of dividends received
On 3 September 2021, the Ukrainian State Tax Service (STS) has clarified that in case of dividends received by a legal entity from another legal entity under a simplified tax regime, the dividends that have not been taxed under the Tax Code of
See MoreUkraine: STS clarifies the controlled transactions criteria for TP purposes
Recently, the State Tax Service (STS) has clarified the criteria for classifying transactions between related parties (Ukrainian residents and non-residents) as controlled for transfer pricing (TP) purposes. Under Ukrainian transfer pricing
See MoreUkraine: MOF approves three Orders on transfer pricing and other taxes
On 20 August 2021, the Ukraine Ministry of Finance announced the issuance of three orders that approve tax clarifications/consultations on: Issues of taxation of income of non-residents, which are equated to dividends (Order №
See MoreUkraine: National Bank increases the interest rate from September 2021
On 9 September 2021, the National Bank of Ukraine has decided to increase its key policy rate from 8% to 8.5% per annum with effect from 10 September 2021. The interest rate has a tax effect on the late tax payment interest and penalties which is
See MoreOECD: Ukraine commits to automatic exchange of financial account information
On 30 August 2021 the OECD announced that Ukraine is committed to implementing the international Standard for Automatic Exchange of Financial Account Information in Tax Matters (AEOI) by 2023. More than a hundred member countries of the OECD's
See MoreUkraine issues taxation of income of non-residents
On 27 Aug 2021, the Ukrainian Ministry of Finance has issued Order No. 480 regarding the taxation of income of non-residents, which are equated to dividends. The Order provides clarification on the application of the new rules of taxation of income
See MoreUkraine: STS releases guidance letter on tax treaty requirements under CFC rules
On 12 July 2021, the State Tax Service (STS) has issued a guidance letter 2712/IPK/ 99-00-21-02-02-06 which clarifies tax treaty requirements under CFC rules. The guidance letter clarifies that from 1 January 2022 CFC profits may be exempt from
See MoreUkraine: National Bank increases the interest rate from July 2021
On 22 July 2021, the National Bank of Ukraine has decided to increase its key policy rate from 7.5% to 8% per annum with effect from 23 July 2021. The interest rate has a tax effect on the late tax payment interest and
See MoreUkraine issues draft laws on tax incentives for industrial park
Ukraine has issued Draft Law 5688 on 22 June 2021, and Draft Law 5688-1 on 7 July 2021 ‘on Amendments to the Tax Code of Ukraine to create favorable conditions for attracting large-scale investment in the industrial park’. The Draft Law
See MoreUkraine: National Bank increases the interest rate from April 2021
On 15 April 2021, the National Bank of Ukraine has decided to increase its key policy rate from 6.5% to 7.5% per annum with effect from 16 April 2021. The interest rate has a tax effect on the late tax payment interest and
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