On 1 January 2004 Ukraine woke up to the new personal income tax. A development of the previous individual income taxation, this tax is, if anything more sophisticated. Its novelties will have a lasting impact on many of the tax planning strategies involving individuals. Without attempting a comprehensive analysis of the new tax, this article offers an outline of some of its major implications for tax planning. A ...
Restraints of trade - Scope of rules: 1. Are restrictive agreements and practices regulated? If so, what are the substantive provisions and regulatory authority? Restrictive agreements and practices may qualify as anti-competitive concerted practices (that is, practices that resulted or may result in prevention, elimination or restriction of competition). There is a general prohibition of anti-competitive concerted practices, unless an exemption applies (see Question 3) ...
The military aggression of Russia and its satellites against Ukraine is not only a personal tragedy of Ukrainians and a threat to the existence of Ukrainian statehood. It also has an economic dimension in the form of huge material losses suffered by both Ukraine in general and each citizen in particular ...
Military action has made adjustments to the activities of the vast majority of companies in Ukraine. Unfortunately, for many employers, the issue of revising the terms of remuneration of staff in the direction of reduction has become relevant. The Law of Ukraine “On the Organization of Labor Relations in Martial Law” (the Law), which entered into force on March 24, reminded of the restriction of the constitutional right to work for the period of martial law ...
According to official statistics, almost 104,000 couples got married in Ukraine during the first half of such a difficult year of 2022. It is interesting that during the same period of 2021, a little less than 86 thousand couples exchanged marriage vows. Such indicators indicate that the full-scale war did not prevent those who have a desire to create new families ...
The rules of state aid work for the implementation of public-private partnership projects and require the state, as a partner, to comply with the conditions of the transfer of budgetary resources to private partners, in order to avoid a ban on the conclusion of state contracts due to the incompatibility of state aid with economic competition. The Ministry of Economy proposed a plan to restore Ukraine with a price tag of $750 billion of budget funds ...
On its way to a market economy, one of the primary tasks facing Ukraine is the development of its financial markets and, inevitably, elaboration of its finance laws. Although much remains to be done, the passing year has brought several major developments in the area of finance law: (a) introduction of the anti-money laundering system, (b) tightening of exchange controls and (c) further dramatic growth of the bond market, including the issue of corporate and municipal Eurobonds ...
Legal succession of banksUkrainian legislation prescribes a special reorganisation procedure for banks that, among other things, requires banks to:• develop a reorganisation plan;• obtain approval for internal statute changes from the National Bank of Ukraine; and• conduct an audit to ensure the correctness of transfers (for mergers and acquisitions) or the demerger balance sheet (for spin-offs and transfers) ...
In the final 3 months of 2019, the Verkhovna Rada of Ukraine adopted a great number of changes to construction laws. The following Ukrainian laws, among others, saw some significant changes: 1) "On Architectural Activities" No. 687-XIV dated 20 May 1999 ...
Project financing in emerging markets has been in use for some time, primarily for financing large new projects without any prior track record or operating history — greenfield projects. Emerging markets are in instant need of project financing as an effective instrument for economic investments. It facilitates attracting new investments by structuring the financing around the project's own operating cash flow and assets, without the additional guarantees of sponsors ...
by Igor Shevchenko and Michael Kharenko, Shevchenko Didkovskiy & Partners The need for corporate governance regulation evolved as Ukraine gained its independence and began its transformation to a market economy. Privatisation of state companies has led to their reorganisation into joint stock companies with a diverse ownership base ...
In 2012, the Ukrainian government has conducted three tenders for production-sharing agreements (hereinafter - SRS) in respect of hydrocarbons that will be produced on land for 2 subsurface areas and in one section of the Black Sea shelf ...
The development of economic ties in the modern world is invariably a driving force in the creation of new legal instruments, the development and improvement of regulatory control, and the establishment of entire institutions and branches of law. Such parallel progress between the economy and the law serves as collateral for the successful development of the state as a whole ...
On March 28 2014 Law 642/2013 - a milestone of the government's anti-corporate raider policy - entered into force. Revival of the bill, which had previously gathered dust in parliamentary committees for several years, was a response to numerous calls from the international community to take measures to counter illegal takeovers and acquisitions of businesses ...
1 Which legislation sets out the regulatory framework for the marketing, authorisation and pricing of pharmaceutical products, including generic drugs? Which bodies are entrusted with enforcing these rules? The relevant legislation includes the following: • Law on Medicines 1996;
One year ago, on June 21, 2022, the President signed the law on the ratification of the Council of Europe Convention on the prevention of violence against women and domestic violence and the fight against these phenomena. The Convention entered into force for Ukraine on November 1, 2022 ...
As a general tendency, the public perception of trade unions in Ukraine is rather ambiguous. On the one hand, there is common understanding of the primary role of trade unions as public institutions for protecting the rights and interests of employees ...
Recently Ukrainian State Tax Service (STSU) published a number of tax circulars containing STSU's interpretations of the tax law. The above circulars cover a variety of issues. Some of the key points are as follows: Corporate Profit Tax (CPT)1 ...
The AMC completed revision of its procedural rules on merger notifications. The new Merger Regulation significantly reduces disclosure requirements and simplifies filing forms, especially for mergers with no or limited overlaps ...
Advertising in Ukraine is regulated mainly by the Advertising Act (the “Act”). Some aspects are also regulated by the TV and Radio Broadcasting Act, Printed Mass Media Act, Protection Against Unfair Competition Act, Copyright and Related Rights Act, Protection of Rights to Trademarks Act, Protection of Consumer Rights, Languages Act and others.The Act has recently become one of the most publicly debated laws in Ukraine ...
Due to introduction of restrictive measures in the territory of Ukraine during the quarantine period, the National Bank of Ukraine (hereinafter the "NBU"), by its Resolution No. 39 dated 26 March 2020 (the "Resolution"), introduced special rules for application by the banks of Ukraine of the requirements of the Regulation on determination by banks of Ukraine of the credit risk on active banking operations, approved by the Resolution of the Board of the NBU No. 351 of 30 June 2016 ...
Merger control in Ukraine: overviewRegulatory framework1. What (if any) merger control rules apply to mergers and acquisitions in your jurisdiction? What is the regulatory authority?Regulatory frameworkMergers and acquisitions, as well as establishment of an undertaking and appointments to corporate positions under certain circumstances, are subject to merger control in Ukraine ...
IntroductionIn the course of implementing the visa liberalisation regime with the European Union, Parliament recently passed several anti-corruption laws, including the Law on Criminal Liability of Legal Entities. The law introduced amendments to the Criminal Code, the Code of Criminal Procedure, the Law on Principles of Prevention and Combating Corruption and the Law on Ensuring the Safety of Those Involved in Criminal Proceedings ...
